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June US Housing Starts Jump, Permits Fall, Completions Up

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June housing starts jumped by 19% from the previous month to a 1.427 million annual rate, above expectations compiled by Bloomberg as of 7:30 am ET for a 1.310 million rate after a decrease to a 1.199 million pace in May.

Building permits fell by 3% to a 1.367 million rate in June, below the 1.403 million rate expected and following a decrease to a 1.410 million rate in May. Homes permitted but not started also declined, so the outlook is pessimistic for another starts gain next month.

Home completions increased by 3.3% to a 1.392 million rate after a 7.4% decrease in the previous month. Completions were up 1.5% year-over-year.

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