Residential Starts Up

Total residential starts in the United States went up 49 per cent in June from the same month one year ago, when starts were 840,000. Housing starts for June 2021 jumped 6.3 per cent compared to May, at a seasonally adjusted annual rate of 1.643 million. This is the highest in three months amid strong demand from buyers, elevated materials costs, and a shortage of qualified workers. Additionally, permits for future homebuilding went up 35 per cent. Single-family permits were at 1.1 million units, a 32 per cent improvement compared to June 2020.