Bloomberg, July 17, 2024, US Housing Starts Increase on Pickup in Multifamily Construction
New US home construction picked up in June, though a decline in single-family housing starts to an eight-month low underscored a real estate market challenged by high interest rates.
Total housing starts increased 3% to a 1.35 million annualized rate last month, driven by a 19.6% surge in multifamily construction, according to government data released Wednesday. Starts of one-family homes fell for a fourth straight month.
