US Housing Starts - June housing starts continued to decline after the end of the home buyer tax credit at the end of April $URE

US Housing Starts - June housing starts continued to decline after the end of the home buyer tax credit at the end of April. An upward revision to April’s data as well as a downward revision to May’s data increased the overall decline in starts since April. Based on the revised figures, total starts declined almost 15% in May and an additional 5% in June, with a June value of 549,000. Single family starts declined only 0.7% in June, after falling 18.8% in May, but multi-family starts declined 21.5% in June after increasing in each of the three prior months. Total starts declined in each of the four regions, but there were regional differences in single family starts; single family starts decreased in the Northeast (-8.9%) and theMidwest (-11.3%), but actually increased in the South (+3.6%) and the West (+3.1%) wheremost of the housing starts occur.