Housing Starts Jumped in June From Prior Month

Home construction unexpectedly rose 3.6% in June from the prior month, building permits surged, and single-family starts climbed, according to data that adds to evidence the housing sector is beginning to heal.

Housing starts increased 3.6% to a seasonally adjusted 582,000 annual rate compared to the prior month, the Commerce Department said Friday.

Housing starts were 52.0% lower than the pace of construction in June 2008.

May housing starts climbed 17.3% from April to 562,000, revised from an originally reported 17.2% increase to 532,000.

Read Full Article from Wall Street Journal

- Posted: 2009-07-17 10:01:18

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