Housing Starts Surge 14.6% in June

The housing market in June enjoyed double-digit increases in housing starts month-to-month and year-to-year, according to the most recent data from the U.S. Census Bureau. Privately-owned housing starts in June were at a seasonally adjusted annual rate of 629,000,14.6 percent above the revised May estimate of 549,000 and 16.7 percent above the June 2010 rate of 539,000. Single-family housing starts in June were at a rate of 453,000; 9.4 percent above the revised May figure of 414,000. The June rate for units in buildings with five units or more was 170,000, 31.8 percent above May.

Building permits in June were also up, but not as dramatically as housing starts. Building permits in June were at a seasonally adjusted annual rate of 624,000, 2.5 percent above the revised May rate of 609,000 and 6.7 percent above the June 2010 estimate of 585,000.