Pursuits
Housing Starts in U.S. Increased More Than Forecast in June
- Gain led by strongest starts in West since July 2007
- Smaller rise in permits signals little scope for more gains
U.S. June Housing Stars Surprise With 4.8% Gain
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New-home construction in the U.S. rose more than forecast in June, providing some momentum for residential real estate near the end of its busy selling season.
Residential starts increased 4.8 percent to a 1.19 million annualized rate, the most since February, from 1.14 in May that was lower than previously estimated, Commerce Department data showed Tuesday in Washington. Permits, a proxy for future construction, also climbed.