[Fortune] Residential construction rebounded from a three month decline in June with housing starts increasing to 1.22 million, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
The number of housing projects started last month shows an 8.3% increase from the May figures and a 2.1% increase from June of last year.
Homebuilders still have the rising cost of lumber and a skilled labor shortage to contend with while they're trying to gain momentum. But it's not for nothing that housing starts outperformed economist estimates by about 60,000, or 5%. |