Residential construction starts were up in June, but a lull in building permits points to a slowing of this measure in the near term.
U.S. housing starts increased by 6.3% in June to 1.643 million units despite higher costs for lumber and shortages of labor, appliances and furniture. At the same time, the U.S. Census Bureau reported that building permits for residential construction fell 5.1% from May to 1.598 million units, the lowest seasonally adjusted annual rate for building permits since October.
Read more...Housing Starts Rise but Building Permits Portend Slowing via RealPage
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