June Had the Highest Number of Housing Starts in 4 Years
Posted July 25th, 2012 | by The Update
Construction of homes and apartments rose to a seasonally adjusted annual rate of 760,000 in June, the Commerce Department said Wednesday. That exceeded analysts’ estimates and was the highest level since October 2008. Single-family home starts increased 4.7% to 539,000, highest since March 2010, though activity that year was inflated by a federal tax credit for home buyers.
“We’re finally starting to get some traction and move up in a credible way,” said Robert Denk, senior economist for the National Association of Homebuilders.
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