Housing starts suddenly rebounded from May’s drop as residential construction picked up its pace in June.
Privately owned housing starts increased to a seasonally adjusted rate of 1.22 million in June, according to the latest report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is up 8.3% from May’s 1.12 million and up 1.2% from last year’s 1.19 million.
Of those, single-family housing starts increased 6.3% to 849,000 homes, up from 799,000 in May. The chart below shows the increas…