New home construction is always a major part of the economy. Strong housing will result in a stronger economy. The Department of Commerce announced good news on Tuesday, July 19th.
Housing starts in June came in at a seasonally adjusted annual rate of 1,189,000, up 4.8% from the revised May estimate of 1,135,000.
Single-family housing starts in June were at a rate of 778,000, up 4.4% from the revised May figure of 745,000.