Housing Starts Rose 4.8% In June To 1.189 Million Rate

Homebuilders broke ground on an annualized 1.189 million units in June, the Commerce Department said Tuesday. That's a 4.8% monthly increase after a 1.7% drop in May. Building permits, a proxy for future building plans, rose 1.5% to a 1.153 million rate after climbing 0.5% in May. Economists had expected housing starts running at 1.17 million pace, with permits at...