Single Family Starts Up Year-over-year in June; Multi-Family Starts Down 23% YoY

Today, in the Calculated Risk Real Estate Newsletter: Single Family Starts Up Year-over-year in June; Multi-Family Starts Down 23% YoY

A brief excerpt:

Total housing starts in June were above expectations and starts in April and May were revised up.

The third graph shows the month-to-month comparison for total starts between 2023 (blue) and 2024 (red).

Total starts were down 4.4% in June compared to June 2023.

The YoY decline in total starts was due to the sharp YoY decrease in multi-family starts. Single family starts have been up YoY for 12 consecutive months.

There is much more in the article.