NAHB: Housing starts fall 12.3% as tariffs draw increased concern
The June report raises concerns about a softening in housing production over the near term
Total housing starts fell 12.3% in June to a seasonally adjusted annual rate of 1.17 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department.
The June reading of 1.17 million is the number of housing units builders would begin if they kept this pace for the next 12 months. Within this overall number, single-family starts fell 9.1% to 858,000 units. Meanwhile, the multifamily sector, which includes apartment buildings and condos, dropped 19.8% to 315,000.