Housing starts decline in June

Wells Fargo Research Team Wells Fargo

Summary

Total housing starts fell 2.0% during June. The 1.559 million-unit pace registered during the month marks the slowest pace since September 2021. Driving this decline are single-family starts, which dropped 8.1% for the fourth consecutive monthly decrease. Multifamily starts partially rebounded from May's sharp drop and rose 10.3% during June. Total building permits slipped 0.6% in June. The better-than-expected outcome was largely the result of an 11.5% jump in multifamily permits.

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Wells Fargo Research Team

Wells Fargo

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