The National Association of Home Builders (NAHB) says figures released by the U.S. Commerce Department show housing starts for single and multifamily homes increased in June 14.6 percent to a seasonally-adjusted rate of 629,000. Bob Nielsen, chairman of NAHB, called it an encouraging sign, but also noted that lack of construction credit continues to stymy new projects. Single-housing starts were up 9.4 percent, and multifamily starts gained 30.4 percent, the best rate since January. All regions of the country showed improvement. Building permits, considered a measure for the future, increased by 2.5 percent. Multifamily building permits alone jumped 6.9 percent, their highest rate since October 2008.
(image courtesy NAHB)