U.S. starts, permits fall in June

U.S. housing starts declined by eight percent in June after a spike in May, according to data from the U.S. Census Bureau. The multi-family segment was hardest hit, but single-family projects were down by seven percent. Meanwhile, May’s starts were revised downward to 1.56 million units from the initial estimate of 1.63 million. The value of building permits issued in June was down 3.7 percent.