Markets & Economy

Reports build snapshot of new-home market

Numbers show increase in starts, much to the delight of builders — but housing recovery challenges remain

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Are you set up for success in 2016? Join 2,500 real estate industry leaders Aug. 4-7, 2015, at Inman Connect in San Francisco. Get Connected with the people and ideas that will inspire you and take your business to new heights. Register today and save $100 with code Readers. How is new-home construction faring this busy summer selling season? The answer depends on whom you ask. The U.S. Census Bureau and the Department of Housing and Urban Development last week jointly announced their monthly new residential construction statistics for June, calculating a seasonally adjusted annual rate of nearly 1.2 million privately owned housing starts last month. This is 9.8 percent about the revised May estimate, and 26.6 percent above the rate reported in June 2014, the agencies said. Single-family housing starts in June were at a rate of 685,000, 0.9 percent below the revised May figure of 691,000. Piggybacking on this positive news was the National Association of Home Builders/W...