The Census Bureau, Washington, D.C., reported that privately‐owned housing starts in June were at a seasonally adjusted annual rate of 1,434,000, 8% below the revised May estimate.
Permits were also down 3.7% in June.
“Housing starts posted a monthly decline in June as tightening monetary policy helped push mortgage rates up more than a quarter-point over the past month,” says Alicia Huey, chairman of the National Association of Home Builders and a custom home builder and developer from Birmingham, Alabama. “Policymakers need to remove regulatory bottlenecks that impede the housing industry’s ability to increase the production of quality, affordable housing.”
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