A quick look at the June ’14 Housing Starts… beginning of construction of a single or multi-family unit.

Putting things in perspective–total housing starts have recovered from the lows reached in 2009 but still way off from the peak levels in 2006-2007.

Total Housing Starts

Single Family vs Multi-Family Housing Starts–below chart reveals construction on Multi-Family units (right scale) have gone back to previous peak level while Single Family units (left scale) are only at around half of the prior peak.

SFR vs MFR Housing Starts

Housing Permits, a step prior to start of actual construction, also confirms the weakening construction activities.

SFR vs MFR Housing Permits