Home construction in the United States increased by 6.3% in June, another sign of the country’s economic recovery after the contraction caused by the coronavirus pandemic.
MiamiMundo / AP
The increase reflects a seasonally adjusted annual rate of 1.64 million units, the Commerce Department reported Tuesday.
Applications for licenses to build, used to project future construction, fell 5.1% in June for a seasonally adjusted rate of 1.59 million units.
Homebuilding in the United States has seen violent ups and downs in recent months, but it remains one of the most robust indicators of the US economy, as buyers continue to far outnumber sellers.