Reuters
A contractor moves roofing material on a home under construction at the Toll Brothers Cantera at Gale Ranch housing development in San Ramon, California.
U.S. housing starts rose more than expected in June as construction activity increased broadly, but a downward revision to the prior month’s data pointed to a housing sector treading water in the second quarter.
Groundbreaking surged 4.8 percent to a seasonally adjusted annual pace of 1.19 million units, the Commerce Department said on Tuesday. May’s starts were revised down to a 1.14 million-unit pace from the previously reported 1.16 million-unit pace.
