The U.S. Government is reporting that privately owned housing starts in June were at a seasonally adjusted annual rate of 1,173,000. This is 12.3% lower than May’s estimate and is 4.2% below June, 2017. June’s estimate is the lowest in 9 months. Single-family housing starts in June were at a rate of 858k which is 9.1% below May. The rate for units in buildings with five units or more was 304k. Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,273,000. This is 2.2% below the May’s revised rate and is 3% percent lower than June, 2017. Single-family authorizations in June were at a rate of 850K, which is 0.8% higher than May’s revised figure. Authorizations of units in buildings with five units or more were at a rate of 387k in June.
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