Single Family Housing Starts in U.S. Rise in June

According to the U.S. Housing and Urban Development and Commerce Department, single-family gains helped offset a drop in multifamily production as total housing starts edged 0.9 percent lower in June 2019 to a seasonally adjusted annual rate of 1.25 million units. The June 2019 reading of 1.25 million starts is the number of housing units builders would begin if they kept this pace for the next 12 months. Within this overall number, single-family starts increased 3.5 percent to 847,000 units. The multifamily sector, which includes apartment buildings and condos, fell 9.2 percent to a 406,000 pace.