All three measures of residential construction activity performed poorly in June, and the two most closely watched numbers, construction permits and housing starts, fell short of their June 2017 numbers.
The worst numbers were for privately authorized housing starts. They failed to hold on to their gain in May, dropping 12.3 percent to 1,173,000 units. May's estimate of 1,337,000 units was revised down from the original 1,350,000. The June estimate fell below the June 2017 pace by 4.2 percent.