The Census Bureau reports that housing starts in June rose significantly:
Privately-owned housing starts in June were at a seasonally adjusted annual rate of 760,000. This is 6.9 percent (±13.3%)* above the
revised May estimate of 711,000 and is 23.6 percent (±16.8%) above the June 2011 rate of 615,000.
Single-family housing starts in June were at a rate of 539,000; this is 4.7 percent (±10.1%)* above the revised May figure of 515,000.
The June rate for units in buildings with five units or more was 213,000.
This is a very significant jump, we haven’t seen starts at 760k since October of 2008.