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Construction Lagging 2015 Numbers; Anticipation Builds for Next Rate Move; Distressed Sales

Construction Lagging 2015 Numbers; Anticipation Builds for Next Rate Move; Distressed Sales

The Residential Construction Report from the U.S. Census Bureau and the Department of Housing and Urban Development reported that, while both permits and housing starts rose in June compared to the previous month, both were down from rates a year earlier. For permitting it was the second annual decline in as many months. In each case the year-over-year loss was in the multi-family sector. Permits were issued for construction of 1,153,000 units, up 1.5 percent from May's rate of 1,136,000 ( revised down from 1,138,000 units originally reported) but were 13.6 percent lower than in June 2015. The May report put the year-over-year change in permits at -10.1 percent. The monthly change in permits was in line with analysts' predictions. Those polled by Econoday had predicted a 1.5 percent increase
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