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Housing Starts Increase in June, Completions Decrease

Building permits improved 0.2% in June but fell 4.4% over the year. Permits for single-family homes in June declined 3.7% from May and 8.4% over the year. On the other hand, permits for buildings with five or more units increased 8.1% from May and 2.1% over the year.

In June, housing starts increased 4.6% from May but fell 0.5% from June 2024. Starts for single-family homes declined 4.6% from May and 10.0% over the year. On the other hand, starts for buildings with five or more units soared 30.6% over the month and 25.8% over the year.

Meanwhile, housing completions plummeted 14.7% over the month and 24.1% over the year. Single-family home completions declined 12.5% from May and 15.5% from June 2024. Completions for buildings with five or more units plunged 21.0% over the month and fell 39.8% from one year ago.

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