Housing Starts on the Decline

Single-family housing starts in June were at a rate of 454,000; this is 0.7 percent (plus or minus 10.7 percent)* below the revised May figure of 457,000 and down 4.6 percent from a year ago.

Privately-owned housing starts in June were at a seasonally adjusted annual rate of 549,000. This is 5 percent (plus or minus 13.2 percent)* below the revised May estimate of 578,000 and is 5.8 percent (plus or minus 10.5%)* below the June 2009 rate of 583,000. The June rate for units in buildings with five units or more was 88,000, down 8.3 percent from a year ago.

Overall, the South was the region that fared the best with a total increase of housing starts of 2.6 percent since last June, with a decrease of 2.1 percent for single units. The Northeast fared the worst, with an overall decrease of 20,3 percent during that time, with an increase of 8.5 percent for single units.

- Courtesy of Economics and Statistics Administration