Residential construction ended the second quarter on a stronger note as groundbreaking on new homes rebounded in June to the fastest annualized pace in four months, Commerce Department data showed Wednesday.
- Highlights from Housing Starts (June)
- Residential starts increased 8.3 percent to a 1.22 million annualized rate (est. 1.16 million)
- Starts for May were revised to 1.12 million from 1.09 million
- Permits, a proxy for future construction, climbed 7.4 percent to a 1.25 million annualized rate