U.S. Housing Starts Come In Lower Than Expected

Sad Homeowner Foreclosure

U.S housing starts for June came in at 549,000 vs. 575,000 expected. New building permits nonetheless beat expectations, coming in at 586,000 vs. 572,000 expected.

Census Bureau:

BUILDING PERMITS

Privately-owned housing units authorised by building permits in June were at a seasonally adjusted annual rate of 586,000. This is 2.1 per cent (±2.1%)* above the revised May rate of 574,000, but is 2.3 per cent (±2.0%) below the June 2009 estimate of 600,000.

Single-family authorizations in June were at a rate of 421,000; this is 3.4 per cent (±1.8%) below the revised May figure of 436,000. Authorizations of units in buildings with five units or more were at a rate of 145,000 in June.

HOUSING STARTS

Privately-owned housing starts in June were at a seasonally adjusted annual rate of 549,000. This is 5.0 per cent (±13.2%)* below the revised May estimate of 578,000 and is 5.8 per cent (±10.5%)* below the June 2009 rate of 583,000.

Single-family housing starts in June were at a rate of 454,000; this is 0.7 per cent (±10.7%)* below the revised May figure of 457,000. The June rate for units in buildings with five units or more was 88,000.

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