Housing starts in the United States jumped 17.3% to an annual rate of 1,241,000 in June compared to May’s revised figure, landing slightly above estimates, according to data released by the US Census Bureau on Friday.
On an annual basis, US housing starts diminished by 2.5% in the same month.
Privately-owned housing units that were granted building permits stood at a seasonally adjusted annual rate of 1,241,000 in June, growing 2.1% month-over-month but sliding 2.5% annually.
Privately-owned housing completions climbed 4.3% monthly to amount to 1,225,000 in June, improving 5.1% compared to June 2019.
Meanwhile, single-family housing starts were at 831,000, marking a rise of 17.2% compared to the previous month’s revised rate.
The report also said building permits increased by 2.1 percent to an annual rate of 1.241 million in June after surging up by 14.1 to a downwardly revised rate of 1.216 million in May.