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Housing starts, building permits and housing completions up in June

Homebuilder confidence has more than doubled in the last three months, in part due to record-low mortgage rates and changing buyer preferences.

New home sales have risen a significant amount amid the coronavirus shutdown, shining through as an encouraging sign in a recovering economy.

June housing starts rose 17.3% from May, to 1,186,000 (SAAR), and were down 4 percent from a year ago, according to the U.S. Census Bureau, according to a report from Zillow.

The same report showed that building permits were up 2.1% from May and down 2.5% from June 2019, to 1,241,000. Housing completions also rose 4.3% from May and are up 5.1% from June 2019.

Homebuilder confidence has more than doubled in the last three months, indicating that builders are shedding any concerns associated with rising materials costs and land shortages, and diving right into a market that they believe will see enduring demand from would-be buyers, thanks to record-low mortgage rates and changing buyer preferences, reports Zillow.

The data highlights this changing sentiment and the momentum for home construction should continue.