U.S. housing starts rebounded last month, signaling positive momentum for home builders trying to meet solid buyer demand
Housing starts rose 8.3% in June from the prior month to a seasonally adjusted annual rate of 1.215 million, the Commerce Department said Wednesday.
Residential building permits, which can signal how much construction is in the pipeline, increased 7.4% to an annual pace of 1.254 million last month. That was the largest one-month jump since November 2015.
Economists surveyed had expected a 6.4% increase for starts and a 2.6% rise for permits in June. Overall starts had declined the prior three months, and permits were down in both April and May.
Information from The Wall Street Journal
