U.S. housing starts up in June, still down in the West

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Housing starts were up in June by 3.6% over May, the Census Bureau reports today. New home construction may have hit bottom this year, but June’s start total was still 46% below the June rate of 2008.

The bump in starts is also due mainly to new starts in nonbubble areas. June starts were up 29% in the Northeast and 26% in the South over May, but in the West, starts were down 15% from May to June.

So don’t expect a boom in home construction and related spending in Southern California this summer.

-- Peter Y. Hong