National residential construction figures up during June

Residential construction figures, including starts and completions, were up during June.The U.S. Census Bureau and the Department of Housing and Urban Development recently released new data that showed improving figures for residential construction during June.Overall, the number of privately owned units receiving building permits settled at a seasonally adjusted annual rate of 624,000, which was 2.5 percent higher than the revised total in May of 609,000. In addition, the figure is up 6.7 percent from the total in June 2010. Single-family authorizations during the month reached a rate of 407,000, which is 0.2 percent above May's figure.Regarding housing starts, the seasonally adjusted annual rate of 629,000 was 14.6 percent above May's revised estimate of 549,000 and June 2010's pace of 539,000. Single-family starts grew to a rate of 453,000, which is up 9.4 percent from May.Finally, private housing completions settled at a seasonally adjusted annual rate of 535,000, up 1.7 percent from May. However, the figure was down 39.3 percent from June 2010. Single-family completions settled at 436,000, which was equal to May's figure.This data, along with a rise in the National Association of Home Builders' confidence index, could result in greater property sales for improving sectors, such as the Houston real estate market.Courtesy of 2M Realty News

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