Housing starts fall enough to break 3-year trend of improvement

By Jann Swanson | Mortgage News Daily

All three residential construction indicators fell in June according to the U.S. Census Bureau and the Department of Housing and Urban Development. Housing permits and housing starts were down for the second month in a row and completions, which increased in May, also fell.

Permits for residential construction were issued as a seasonally adjusted annual rate of 963,000 units, a decrease of 4.2 percent from the May rate of 1,005,000. The May rate was revised upward from the 991,000 pace originally reported. June permitting was 2.7 percent higher than the June 2013 rate of 938,000.

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July 18, 2014

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