American housing starts continued to grow in June to mark the highest in three months, while permits fell to an eight-month low.
- Seasonally-adjusted privately-owned housing starts stood at 1.643 million in June. This is 6.3% higher than May’s 1.546 million and 29.1% above June 2020’s 1.273 million. It is also the highest in three months since March’s 1.725 million.
- Year-on-year and month-on-month growth was seen in single-family housing starts which grew to 1.160 million, and building with five units or more to 474,000 for the month.
- Building permits for privately-owned housing units were reported at 1.598 million during the month. This is 23.3% higher than June 2020’s 1.296 million, but 1.1% lower than May’s 1.683 million. It is also the lowest in eight months since October 2020’s 1.595 million.
- Year-on-year growth was recorded in permits for the month, but permits were down 6.3% for single-family housing units, by 10.3% for buildings with two to four units, and down 1.6% for buildings with five units or more.
- Housing completions for the month were reported at a seasonally adjusted annual rate of 1.324 million. This is 1.4% lower than the 1.343 million in May, but 6.5% higher than June 2020’s 1.243 million.
Most completions for the month were single-family housing units, followed by those with five units or more.
VNQ is up 0.34%, while SCHH is flat premarket.
Source: US Census Bureau