Today’s New Residential Construction Report showed mixed results in June with an 9.9% decline to total housing starts and a 7.5% decline to total housing permits while both single family housing permits and starts improved on the month.Single family housing permits, the most leading of indicators, increased 0.6% from May to 624K single family units (SAAR), and increased 24.6% above the level seen in June 2012 but still remained well below levels seen at the peak in September 2005.
Single family housing starts declined 0.8% from May to 591K units (SAAR), and rose 11.5% above the level seen in June 2012 but still remained well below the peak set in early 2006.
