by Calculated Risk on 7/19/2011 08:45:00 AM
Tuesday, July 19, 2011
Housing Starts increase in June
From the Census Bureau: Permits, Starts and Completions
Housing Starts:
Privately-owned housing starts in June were at a seasonally adjusted annual rate of 629,000. This is 14.6 percent (±10 9%) above the revised May estimate of 549,000 and is 16.7 percent (±11.8%) above the June 2010 rate of 539,000.
Single-family housing starts in June were at a rate of 453,000; this is 9.4 percent (±11.1%)* above the revised May figure of 414,000. The June rate for units in buildings with five units or more was 170,000.
Building Permits:
Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 624,000. This is 2.5 percent (±1.3%) above the revised May rate of 609,000 and is 6.7 percent (±2.0%) above the June 2010 estimate of 585,000.
Single-family authorizations in June were at a rate of 407,000; this is 0.2 percent (±1.0%)* above the revised May figure of 406,000. Authorizations of units in buildings with five units or more were at a rate of 198,000 in June.

Total housing starts were at 629 thousand (SAAR) in June, up 14.6% from the revised May rate of 549 thousand.
Single-family starts increased 9.4% to 453 thousand in June.
The second graph shows total and single unit starts since 1968.

This was above expectations of 575 thousand starts in June. Multi-family starts are increasing in 2011 - although from a very low level. This is one of the bright spots for construction and the economy this year.
I'll have more on housing starts later.