Market Updates
Housing Permits, Starts and Completions Declined in June
Brian Turner
19 Jul, 2023
New York City
In domestic economic news, seasonally adjusted housing starts declined 8% from the previous month to 1.434 million, the U.S. Census Bureau reported Wednesday.
Single family home starts declined 7% to 935,000 and multi-family unit starts fell 11.6% to 482,000.
Building permits in June were at 1.44 million, a decline of 3.7% from the revised May rate of 1.496 million and 15.3% below the annual rate of 1.701 million in June 2022.
Housing starts in June were 1.434 million and 8.0% below the revised May estimate of 1.559 million and 8.1% below the revised rate of 1.561 million in June 2022.
Home completions declined to 1.468 million, 3.3% below the revised May estimate of 1.518 million but 5.5% higher than the June 2022 rate of 1.39 million.
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