Housing Starts Plummet In June

 

🏡 Let's take a look at the latest housing starts data for the month of June! According to the U.S. Census Bureau and the Department of Housing and Urban Development, single-family housing starts were at a rate of 935,000. Additionally, privately-owned housing starts were at a seasonally adjusted annual rate of 1.43 million, experiencing an 8% decline from the revised May estimate of 1.55 million and an 8.1% drop compared to June 2022's rate of 1.56 million. 📉

 

On the bright side, single-family authorizations in June reached a rate of 922,000, reflecting a 2.2% increase from the revised May figure of 902,000. However, single-family housing completions in June were down by 2.8%, with a rate of 986,000 compared to the revised May rate of 1.01 million. 🏗️