Housing starts get an 8.3% boost in June

Starts reached a pace of 1.215 million in June.

Housing starts got a healthy boost of activity in June following three straight months of declines, increasing 8.3% over May.

Total housing starts came in at a seasonally adjusted annual rate of 1,215,000, up from the revised May estimate of 1,122,000. This is also 2.1% above June 2016.

Single-family housing starts clocked in at 849,000, up 6.3% over May's revised figure of 799,000.

The most dramatic turnaround for starts occurred in the Northeast, where total starts were up 83.7% over May. The Midwest's monthly gain of 22% was nothing to sneeze at either, even though single-family starts decreased 3.6% there.

The South was down by 3.8% in total (but up 7.2% in single-family), and the West was up 1.6% in total and 10.6% in single-family.

The good times appear to be poised to continue: building permits totaled a seasonally adjusted annual rate of 1,254,000, up 7.4% over May and 5.1% over last year. Single-family permits were up 4.1% over May.

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