U.S. Housing Starts at Four-Month High Give Boost at Quarter-End
ByResidential construction ended the second quarter on a stronger note as groundbreaking on new homes rebounded in June to the fastest annualized pace in four months, Commerce Department data showed Wednesday.
Key Takeaways
The pickup in construction last month reflected more starts of single-family homes as well as apartment and other multifamily dwellings. The gain in June starts ended a three-month slide that indicates residential building will do little for second-quarter economic growth.
While construction improved in June and demand is holding up, builders have become a bit less upbeat because of higher costs for construction materials such as lumber. Sentiment dropped to an eight-month low, according to an industry report yesterday, wiping out the post-election boost in enthusiasm as builders expected deregulation and tax reform to spur more growth…
U.S. Housing Starts at Four-Month High Give Boost at Quarter-End
