US Single Housing Starts Slide In June, Permits Edge Up

U.S. single-family housing starts slide in June to 883,000 units, falling 4.6% compared to the revised figure of 926,000 for May.

Permits for new housing constructions edged up by 4,000 to 1,397,000 during the month, amid a subdued housing market.

According to data from the U.S. Census Bureau, single-family authorizations, starts, and completions all declined in June compared to May.

While authorizations fell 3.7% sequentially, starts declined 4.6%, and completions fell by an even bigger rate of 12.5% in June.

Single-family homes account for the bulk of the U.S. homebuilding. President Donald Trump’s tariffs on crucial homebuilding materials, such as lumber, aluminum, and steel, have led to an increase in construction costs.

Tariff-induced economic uncertainty and high borrowing costs for homebuyers have also resulted in a slowdown in the real estate sector.

On the other hand, privately owned housing authorizations increased in June, rising 0.2% from May. Privately-owned housing starts rose 4.6%, but completions declined 14.7% during the month.

Meanwhile, U.S. equities appear poised for a positive opening on Friday as investors react to the strong earnings reported so far this week.

The SPDR S&P 500 ETF (SPY), which mirrors the S&P 500 index, was up 0.13% at the time of writing during the pre-market session, while the Invesco QQQ Trust (QQQ), which mirrors the Nasdaq, gained 0.09%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.

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