Economic Trends
June U.S. Housing Starts Rebound Despite Single-Family Slide
U.S. housing starts rose in June from a downtrodden May but remained slightly below last year’s levels, with weakness in single-family starts and permits.
The U.S. Census Bureau released its monthly new residential construction report for June on July 18, showing an increase in overall housing starts month-over-month, but a slight decline year-over-year.
In the Store: MDM’s U.S. MRO Market Trends Report
Housing Starts
Privately-owned housing starts in June were at a seasonally-adjusted rate of 1.32 million, up 4.6% from May’s revised estimate of (-10.6%) but down 0.5% year-over-year. Single-family housing starts were at a rate of 883,000, down 4.6% from May.
U.S. Housing Starts Month-Over-Month % Change
source: tradingeconomics.com
Building Permits
June’s privately-owned housing units authorized by building permits were at a seasonally-adjusted rate of 1.397 million, up 0.2% from May’s revised rate and down 4.4% year-over-year. Single-family authorizations were at a rate of 866,000, down 3.7% from May.
Housing Completions
In June, privately-owned housing completions were at a seasonally-adjusted annual rate of 1.314 million, 14.7% below the revised May estimate of 1.54 million, and 24.1% below the June 2024 rate of 1.731 million. Single-family housing completions were at a rate of 908,000, 12.5% below the revised May rate of 1.038 million.
