Single-Family Starts and Permits Post Double-Digit Gains in June

Led by solid single-family production, total housing starts increased 17.3 percent in June to a seasonally adjusted annual rate of 1.19 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department.

The June reading of 1.19 million starts is the number of housing units builders would begin if they kept this pace for the next 12 months. Within this overall number, single-family starts increased 17.2 percent to an 831,000 seasonally adjusted annual rate, after an upward revision from the May estimate. The multifamily sector, which includes apartment buildings and condos, increased 17.5 percent to a 355,000 pace.