US Housing Market Shows Mixed Signals in June

In an unexpected turn, housing starts in the United States climbed by 4.6% in June, reaching 1,321,000, as reported by the US Census Bureau. This monthly increase contrasts with a slight 0.5% decrease compared to the same period last year. Notably, single-family housing starts experienced a 4.6% drop from the previous month, totaling 883,000.

Building Permits and Completions Tell a Different Story

Building permits saw a modest rise of 0.2% in June, adjusting to 1,397,000, yet they were 4.4% lower than in June 2024. The segment of single-family permits wasn't spared, with a 3.7% monthly decline to 866,000. Meanwhile, housing completions took a significant hit, plummeting 14.7% from May to 1,314,000 and marking a 24.1% decrease year-over-year. Single-family completions also fell by 12.5% monthly to 908,000.