## FAQ

### 1. What is the overall trend in housing starts for June?
Overall housing starts increased by 3.0% in June to a seasonally adjusted annual rate of 1.35 million units.

### 2. How have single-family starts performed in June?
Single-family starts decreased by 2.2% from an upwardly revised May figure to a 980,000 seasonally adjusted annual rate.

### 3. What is the current state of the multifamily sector?
The multifamily sector increased by 19.6% in June to an annualized 373,000 pace, but the trend for apartment construction is lower.

### 4. How have permits changed in June?
Overall permits increased by 3.4% to a 1.45 million unit annualized rate in June, with single-family permits decreasing by 2.3% and multifamily permits increasing by 15.6%.

### 5. How many single-family homes and apartments were under construction in June?
The total number of single-family homes and apartments under construction was 1.56 million in June, the lowest total since January 2022.

## Conclusion

The housing market showed mixed results in June, with single-family starts declining but multifamily construction seeing an increase. Builders are facing challenges due to high interest rates, but there is optimism for improvement as the Federal Reserve is expected to begin rate reductions later in the year. The increase in multifamily completions will provide some relief for shelter inflation and support the decision for rate cuts. Overall, the housing market is poised for growth in the coming months as builders navigate the current economic landscape.