U.S. Housing Starts in June Rose 6.9% to Highest Level in Four Years

U.S. housing starts in June 2012 rose 6.9%, reaching their highest level since October 2008.

U.S. housing starts in June rose 6.9% to the highest level of new construction projects since October of 2008.

According to the Commerce Department, new building on private properties reached an annual rate of 760,000, with May 2012 seeing 711,000 new projects. The department says this was the biggest percentage gain in seven months.

When compared to June 2011, housing starts were 23.6% higher in June. New construction of single family homes has risen over the past four months to a two-year high.

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