Housing Shows Healthy Climb in June

Housing Starts:

Privately-owned housing starts in June were at a seasonally adjusted annual
rate of 760,000. This is 6.9 percent above the revised May estimate of 711,000
and is 23.6 percent above the June 2011 rate of 615,000.

Single-family housing starts in June were at a rate of 539,000; this is 4.7
percent above the revised May figure of 515,000. The June rate for units in
buildings with five units or more was 213,000.

Building Permits:

Privately-owned housing units authorized by building permits in June were at a
seasonally adjusted annual rate of 755,000. This is 3.7 percent below the
revised May rate of 784,000, but is 19.3 percent above the June 2011 estimate
of 633,000.

Single-family authorizations in June were at a rate of 493,000; this is 0.6
percent above the revised May figure of 490,000. Authorizations of units in
buildings with five units or more were at a rate of 241,000 in June.

Total housing starts were at 760 thousand (SAAR) in June, up 6.9% from the revised May rate of 711 thousand (SAAR). Note that May was revised up from 708 thousand. April was revised up slightly too. Single-family starts increased 4.7% to 539 thousand in June.

This shows the huge collapse following the housing bubble, and that total housing starts have been increasing lately after moving sideways for about two years and a half years. Total starts are up 59% from the bottom start rate, and single family starts are up 53% from the low.

 Source:Calculated Risk.