Residential Building

Residential building in June grew 2 percent to $267.1 billion (annual rate), after slipping 2 percent in May. Multifamily housing provided the upward push, rising 8 percent, showing further growth on top of the gains reported earlier in the year.

There were eight multifamily projects valued each at $100 million or greater that reached groundbreaking during June, led by $218 million for the multifamily portion of the $250 million Ballpark Village in San Diego, a $217 million multifamily complex in Miami, and $191 million for the multifamily portion of a $250 million mixed-use building in Brooklyn, N.Y.

Single-family housing in June remained at the dollar amount reported for May, as the faint signs of an upward trend are still subject to hesitation on a month-to-month basis.

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