- Analytics
- News and Tools
- Market News
- U.S. housing starts unexpectedly fall in June
U.S. housing starts unexpectedly fall in June
The Commerce
Department reported on Wednesday the building permits issued for privately
owned housing units plunged by 6.1 percent m-o-m in June to a seasonally
adjusted annual pace of 1.220 million (the lowest level since May 2017), while
housing starts fell by 0.9 percent m-o-m to an annual rate 1.253 million.
Economists had
forecast housing starts increasing by 1.9 percent m-o-m last month and building
permits edging up 0.1 percent m-o-m.
Data for May
was revised slightly down to show homebuilding declining to a pace of 1.265
million units, instead of falling to a rate of 1.269 million units as
previously reported.
According to
the report, permits for single-family homes, the largest segment of the market,
rose 0.4 percent m-o-m at 813,000 in June, while approvals for the multi-family
homes segment declined 16.8 percent m-o-m to a 407,000 unit-rate.
In the
meantime, groundbreaking on single-family homes rose 3.5 percent m-o-m to a
rate of 847,000 units in June, while housing starts for the multi-family tumbled
climbed 9.2 percent m-o-m to a 406,000-unit pace.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
