Business World

Following is a summary of the June housing starts report from the Commerce Department. ===========================================================================

June May April March Feb. Jan. Dec. Nov.

2008 2008 2008 2008 2008 2008 2007 2007 =========================================================================== Housing starts 1.066 0.977 1.004 0.988 1.107 1.064 1.000 1.179 3-mo. average 1.016 0.990 1.033 1.053 1.057 1.081 1.151 1.213 Single family 0.647 0.683 0.681 0.711 0.722 0.750 0.779 0.816 Multi-family 0.419 0.294 0.323 0.277 0.385 0.314 0.221 0.363 ————————————————————————– Housing permits 1.091 0.978 0.982 0.932 0.981 1.052 1.111 1.187 3-mo. average 1.017 0.964 0.965 0.988 1.048 1.117 1.160 1.215 Single family 0.613 0.635 0.649 0.621 0.646 0.675 0.714 0.767 Multi-family 0.478 0.343 0.333 0.311 0.335 0.377 0.397 0.420 ————————————————————————– Under construction 0.965 0.983 1.006 1.013 1.024 1.034 1.055 1.077 3-mo. average 0.985 1.001 1.014 1.024 1.038 1.055 1.076 1.094 Single family 0.507 0.528 0.550 0.563 0.580 0.590 0.608 0.623 ===========================================================================

June May April March Feb. Jan. Dec. Nov.

2008 2008 2008 2008 2008 2008 2007 2007 =========================================================================== Multi-family 0.458 0.455 0.456 0.450 0.444 0.444 0.447 0.454 ————————————————————————– Housing completed 1.167 1.153 1.033 1.192 1.251 1.331 1.329 1.404 3-mo. average 1.118 1.126 1.159 1.258 1.304 1.355 1.378 1.394 Single family 0.859 0.885 0.808 0.909 0.906 0.998 1.026 1.140 Multi-family 0.308 0.268 0.225 0.283 0.345 0.333 0.303 0.264

———————-MOM%—————– -YOY%- Housing starts 9.1% -2.7% 1.6% -10.7% 4.0% 6.4% -15.2% -26.9% Single family -5.3% 0.3% -4.2% -1.5% -3.7% -3.7% -4.5% -43.0% Multi-family 42.5% -9.0% 16.6% -28.1% 22.6% 42.1% -39.1% 30.1% ————————————————————————– Housing permits 11.6% -0.4% 5.4% -5.0% -6.7% -5.3% -6.4% -23.9% Single family -3.5% -2.2% 4.5% -3.9% -4.3% -5.5% -6.9% -39.7% Multi-family 39.4% 3.0% 7.1% -7.2% -11.1% -5.0% -5.5% 14.6% ————————————————————————– Under construction -1.8% -2.3% -0.7% -1.1% -1.0% -2.0% -2.0% -17.0% Single family -4.0% -4.0% -2.3% -2.9% -1.7% -3.0% -2.4% -30.0% ===========================================================================

June May April March Feb. Jan. Dec. June

2008 2008 2008 2008 2008 2008 2007 YOY% =========================================================================== Multi-family 0.7% -0.2% 1.3% 1.4% 0.0% -0.7% -1.5% 4.3% ————————————————————————– Housing completed 1.2% 11.6% -13.3% -4.7% -6.0% 0.2% -5.3% -21.7% Single family -2.9% 9.5% -11.1% 0.3% -9.2% -2.7% -10.0% -30.1% Multi-family 14.9% 19.1% -20.5% -18.0% 3.6% 9.9% 14.8% 17.6% ————————————————————————– Ratio M/S Starts 64.8% 43.0% 47.4% 39.0% 53.3% 41.9% 28.4% 44.5% Ratio M/S Permits 78.0% 54.0% 51.3% 50.1% 51.9% 55.9% 55.6% 54.8% =========================================================================== NOTE: All figures in millions of units and seasonally adjusted at an annual rate. Percent changes are seasonally adjusted.

*New York City enacted a new set of construction codes effective for permits authorized as of July 1, 2008. In June there was a large increase in building permits issued for multifamily residential buildings in New York City.

SOURCE: U.S. Commerce Department.

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