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US housing starts, building permits rise in June

by ChemOrbis Editorial Team - content@chemorbis.com
  • 20/07/2015 (14:40)
US housing starts and building permits rose in June, according to data released by the US Commerce Department. New housing starts rose 9.8% to a seasonally adjusted annual pace of 1.17 million units in June, posting the second highest level since November 2007. This was attributed to builders speeding up their apartment projects. June housing starts missed economists’ initial estimates, which called for an annualized pace of 1.11 million units in a survey by Reuters.

Meanwhile, June building permits, an indicator of future construction, reached an almost 8-year high. Building permits jumped 7.4% to an annualized rate of 1.34 million units in June. Permits for single-family houses rose to 687,000 units, reaching their highest level since January 2008 while multi-family building permits surged 15.3% in June.
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