New Residential Construction Report: June 2016

Yesterday’s New Residential Construction Report showed improvement with total permit activity rising 1.5% since May while total starts increased a notable 4.8% over the same period.

Single family housing permits, the most leading of indicators, rose 1.0% from May to 738K single family units (SAAR), rising 5.1% above the level seen a year earlier and still remained well below levels seen at the peak in September 2005.

Single family housing starts rose 4.4% from March to 778K units (SAAR) rising 13.4% above the level seen a year earlier but still remained well below the levels seen at the peak in September 2005.