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Indecision in Construction Numbers; Fannie Forecasts Prices/Sales; Rates Much Lower But Under Pressure Today

Indecision in Construction Numbers; Fannie Forecasts Prices/Sales; Rates Much Lower But Under Pressure Today

Housing starts posted a second straight increase in June while permits continued what has become a long, slow, slide. The U.S. Census Bureau and the Department of Housing and Urban Development said builders began construction on new homes at a seasonally adjusted annual rate of 1.643 million during the month, a 6.3 percent increase over the 1.546 million rate of starts in May. Those were originally reported slightly higher, a 1.572 million rate. Starts are now 29.1 percent higher than in June 2020. The June number was higher than expected by analysts. Those polled by Econoday had a consensus of 1.590 million units. Their forecasts were wide ranging, running from 1.520 to 1.693 million units. Single family starts were at a seasonally adjusted annual rate of 1.160 million units, also a 6.3 percent
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