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U.S. housing starts rebound in June

Xinhua, July 18, 2015 Adjust font size:

U.S. new home starts and building permits rose sharply in June, the latest sign of momentum in the housing market, the Department of Commerce reported on Friday.

According to the department, privately-owned housing starts were at a seasonally-adjusted annual rate of 1,174,000 in June, up 9.8 percent from the revised May figure and also 26.6 percent higher than the year-ago level.

However, single-family housing starts in June were at a rate of 685,000, down 0.9 percent from the revised May figure.

Privately-owned housing units authorized by building permits, a gauge of future construction, were at a seasonally-adjusted annual rate of 1,343,000, an increase of 7.4 percent from the revised May rate.

The housing starts and permits data in June confirmed the continuous recovery of the U.S. housing market. A latest industry survey showed that U.S. builder confidence for newly-built, single- family homes rose to an almost-10-year high in July. Endite