U.S. housing starts continue to fall in June
Housing starts fell 5.0 percent in June, as the expiration of the homebuyers’ tax credit led to a pullback in new building. Single-family starts slipped 0.7 percent. Permits for multi-family, however, rose 19.6 percent.
The National Association of Home Builders/Wells Fargo Housing Market Index declined for the second consecutive month in April to its lowest level in over a year as homebuilders remained less confident about housing market conditions. The downward trend in builder sentiment, mortgage applications, sales, permits and starts continues to suggest residential construction will likely fall this summer.
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