WASHINGTON (MarketWatch) – Construction on new U.S. homes in June rose 6.9% to an annual rate of 760,000, the highest level since October 2008, but building permits fell slightly, the Commerce Department reported Wednesday. Housing starts in May were revised up to 711,000 from an original reading of 708,000. Economists surveyed by MarketWatch had expected housing starts to rise in June to an annual rate of 750,000 on a seasonally adjusted basis. Permits for new construction, viewed as a gauge of future demand, edged 3.7% lower to an annual rate of 755,000 from 784,000 in May. Permits for single-family homes, which account for three-quarters of the housing market, rose a scant 0.6% to an annual rate of 493,000 last month. More than half of the increase in housing starts in June involved buildings with five or more units.
Posts Tagged Construction permit
By Jeffry Bartash
WASHINGTON — Construction on new US homes rose 2.6 percent in April to an annual rate of 717,000 units, while building permits fell seven percent to 715,000 — one month after reaching a near four-year high, the government reported Wednesday.
Economists surveyed by MarketWatch expected housing starts in April to rise to a total 690,000 on a seasonally-adjusted basis. Housing starts in March were revised up sharply to 699,000 from 654,000, while permits were revised up to 769,000 — the highest level since September 2008 — from an original reading of 747,000.
In April, permits for single-family homes, which account for three-quarters of the housing market, edged up 1.9 percent to an annual rate of 475,000. Permits for new construction are viewed as a gauge of future demand.