Home starts fall 10 percent in June

July 17, 2013

1358425746Housing starts in the U.S. fell 9.9 percent in June, following a 6.8-percent rebound of home construction in May and a 15-percent plummet in April, according to a report from our sister site, Equipment World.

Home starts fell in June to a seasonally adjusted rate of 836,000. That rate is the lowest since August 2012 but still 10.4 percent higher than June 2012.

Multi-family home construction dropped 27 percent in June, and single-family home construction slipped 0.8 percent to a rate of 591,000.

Home construction permits jumped 7.5 percent in June to a rate of 911,000–16.1 percent higher than a year ago. Additionally, single-family home construction permits rose to 624,000, which is the highest rate since May 2008.

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