The U.S. Census Bureau released its monthly new residential construction report for June on July 18, showing an increase in overall housing starts month-over-month, but a slight decline year-over-year.

In the Store: MDM’s U.S. MRO Market Trends Report 

Housing Starts

Privately-owned housing starts in June were at a seasonally-adjusted rate of 1.32 million, up 4.6% from May’s revised estimate of (-10.6%) but down 0.5% year-over-year. Single-family housing starts were at a rate of 883,000, down 4.6% from May.

U.S. Housing Starts Month-Over-Month % Change

source: tradingeconomics.com

Building Permits

June’s privately-owned housing units authorized by building permits were at a seasonally-adjusted rate of 1.397 million, up 0.2% from May’s revised rate and down 4.4% year-over-year. Single-family authorizations were at a rate of 866,000, down 3.7% from May.

Housing Completions

In June, privately-owned housing completions were at a seasonally-adjusted annual rate of 1.314 million, 14.7% below the revised May estimate of 1.54 million, and 24.1% below the June 2024 rate of 1.731 million. Single-family housing completions were at a rate of 908,000, 12.5% below the revised May rate of 1.038 million.