Today’s housing data points to a sustained and sustainable recovery in the sector
Housing starts in June increased 6.9% from May to a seasonally adjusted annual rate of 760,000, according to the Commerce Department this morning. Economists surveyed by Briefing.com had expected an increase to an annual rate of 743,000. Today’s data show a 23.6% increase from June 2011. New construction on single-family homes has now climbed for four straight months to a two-year high.
Housing starts fall, sending copper and lumber prices lower
Housing starts in April came in at a 523,000 annual rate. That’s 11% below the annualized rate for March and considerably short of the 569,000 rate forecast by economists.
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