June Had the Highest Number of Housing Starts in 4 Years

(USA Today) Housing starts jumped 6.9% in June to a 3 ½-year high, underscoring the residential real estate’s slow recovery as a bright spot in a sputtering economy.

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.

Click here to read the full article on USA Today.

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