9:12 am Housing Starts Ramp Up in July
Housing starts increased 15.7% in July to 1.093 mln from an upwardly revised 945,000 (from 893,000) in June. The Briefing.com consensus expected housing starts to increase to 964,000.
The big news out of the housing data was an 8.3% increase, to 656,0000, in single-family construction. New single-family construction levels declined in both May and June after reaching roughly 650,000 in April. Since single family construction trends are typically stable, the two month decline suggested that housing construction may have peaked. While it …More