July 20, 2006: Housing Starts Drop 5.3 Percent in June
WASHINGTON - Total housing starts dropped 5.3 percent in June to a seasonally adjusted annual rate of 1.850 million units, according to figures released by the U.S. Department of Commerce. This was 11 percent below the pace of a year ago.
Single-family housing starts were down 6.5 percent for the month to a pace of 1.486 million units, a 13.8 percent drop from June 2005. Multifamily housing construction was up 0.3 percent for the month to a seasonally adjusted pace of 364,000 units.