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Multi-Family Housing Starts up 28.5%, Single Family Starts Fall 0.9%

Friday, July 17, 2015

The two leading indicators among measures of residential construction activity, building permits and housing starts, posted healthy gains in June the Census Bureau and Department of Urban Development said today.  Both numbers came in above analyst estimates, however gains were concentrated in the multi-family sector; single family numbers were flat. The third measure, housing completions, was down but remained significantly higher than a year earlier.

Bloomberg noted that the unusual rise for multi-family units reflects high levels of rent which were also evident in today's CPI report.

 

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