New home construction rose in June to an annualized pace of 760,000 units, a 6.9% increase from May and a 1.7% increase from the 2012 high in April of 747,000 units. The Census bureau revised estimates for May’s pace up by 3,000 to 711,000 units.
Single family starts continued to improve in June as well to an annualized pace of 539,000 units. This pace, 4.7%, is one of the top two increases since January.
Residential permit issuance declined in June by 3.7% from May suggesting that building may slow in the future.
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