WASHINGTON - U.S. Department of Housing and Urban Development and the U.S. Census Bureau reports that nationwide housing starts dipped 9.3 percent in June. Single-family housing starts declined 9 percent in June along with multifamily production dropping 9.9 percent.
Every region except the South recorded monthly gains. Combined single- and multifamily housing starts grew 14.1 percent in the Northeast, swelled 28.1 percent in the Midwest and gained 2.6 percent in the West. In the South, the nation’s largest region, total production fell 29.6 percent.
"Take away the South and nationwide housing starts would have been in positive territory this month," said David Crowe, chief economist at the National Association of Home Builders. "This sharp regional decline could be due in part to lots and labor shortages, which are particularly acute in that part of the country. However, the general direction of housing production is trending upward, and we expect 2014 to be a positive year."
Issuance of building permits marked a 4.2 percent dip last month. Multifamily permits slumped 14.9 percent while single-family permits grew 2.6 percent.
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