• “…Housing starts and permits for future home construction unexpectedly fell in June, but the decline in activity was likely to be short-lived against the backdrop of bullish sentiment among home builders.

    The Commerce Department said on Wednesday housing starts dropped 9.9 percent to a seasonally adjusted annual rate of 836,000 units. That was the lowest level since August last year.

    Economists, who had expected groundbreaking to rise to a 959,000-unit rate, shrugged off the decline and said wet weather in many parts of the country had dampened activity. They noted that much of the drop was in the volatile multifamily segment…”

    To read more, click on the link below!

    U.S. housing starts fall to ten-month low, weather blamed
    By Lucia Mutikani
    June 17, 2013

    Link to read more: http://www.reuters.com/article/2013/07/17/us-usa-economy-idUSBRE96A0G320130717