The US Census Bureau reported a 29.1pc increase in housing starts to 1.6 million units in June against the same year-ago month and a 6.3pc rise compared to May 2021.
Single-family housing starts increased by 6.3pc to 1.2 million homes in June 2021 against the preceding month while completions of privately owned homes dropped by 1.4pc to 1.3 million during the same monthly timeframe under review but rose by 6.5pc against June 2020.
The seasonally adjusted annual rate for building permits in June dropped by 5.1pc to 1.7 million compared to May but was 23.3pc above the year-ago month. Single-family authorizations grew by 6.3pc in June to 1.1 million homes compared to May.