Economics
Housing Starts in US Decline to Lowest Level Since September
- Groundbreaking dropped 2% to 1.56 million pace in June
- Single-family construction, permits fell to two-year lows
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New US home construction fell in June to the lowest since September after plunging the prior month, driven by a slide in single-family homebuilding that underscores waning demand.
Residential starts declined 2% last month to a 1.56 million annualized rate, after an upwardly revised 1.59 million pace in May, according to government data released Tuesday. The median forecast called for a 1.58 million pace.