Talking Points
- Housing starts posted a healthy 4.8 percent gain last month to a seasonally adjusted annual rate of 1.19 million units as the housing market gains steam this year, the Commerce Department reported.
- Permits for building, a forward looking indicator, also increased and were up 1.5 percent to a seasonally adjusted annual rate of 1.15 million, another positive sign for the housing sector.
- Single-family housing starts rose 4.4 percent to a seasonally adjusted annual rate of 778,000 units in June, while multifamily production ticked up 5.4 percent to 411,000 units.