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Housing starts up nearly 5% MOM in June

The June housing start rate for privately owned units in theU.S. was 1,189,000, up 4.8% from the revised May rate of 1,135,000 but down 2.0%from the year-ago rate, the U.S. Census Bureau and the U.S. Department of Housingand Urban Development reported.

Single-family units were started in June at a rate of 778,000,up 4.4% from the revised May figure and up 13.4% from the June 2015 rate. Unitsin buildings with five units or more were started at a rate of 392,000 in June,up 1.6% from a month ago but down 23.6% from the year-ago figure.

The permit authorization rate in June was 1,153,000 for privatelyowned housing units, 1.5% above the May rate but 13.6% below the June 2015 figure.Completions for privately owned housing were at a rate of 1,147,000 in June, up12.3% from May and 18.7% higher than the year-ago rate.