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0 <br />200 <br />400 <br />600 <br />800 <br />1,000 <br />1,200 <br />1,400 <br />1,600 <br />1,800 <br />2,000 <br />2,200 <br />2,400 <br />In <br /> <br />T <br />h <br />o <br />u <br />s <br />a <br />n <br />d <br />s <br /> <br />o <br />f <br /> <br />U <br />n <br />i <br />t <br />s <br />Annualized Housing Starts <br />Multi Family Housing Starts <br />Single Family Housing Starts <br />Housing starts rebounded in June, rising to a seasonally adjusted annual rate of 1.427 million—a 19%increase from an upwardly revised <br />1.199 million in May. The gain was driven primarily by multifamily construction, with starts surging more than 76%month over month to <br />532,000 units, while single-family starts edged down slightly to 895,000. Home price growth showed tentative signs of firming,as the S&P <br />CoreLogic Case-Shiller 20-City Composite rose 1.1% year over year in April, marking its first acceleration since November 2025 and <br />following an upwardly revised 0.9% increase in March. Meanwhile, borrowing costs remained elevated, with Freddie Mac’s average 30-year <br />fixed mortgage rate ticking up to 6.49% in June from 6.44% in May, continuing to weigh on affordability for prospective buyers. <br />Source: US Department of Commerce Source: S&P <br />-20.0% <br />-16.0% <br />-12.0% <br />-8.0% <br />-4.0% <br />0.0% <br />4.0% <br />8.0% <br />12.0% <br />16.0% <br />20.0% <br />24.0% <br />S&P/Case-Shiller 20 City Composite Home Price Index <br />Recession <br />Y <br />O <br />Y <br /> <br />( <br />% <br />) <br /> <br />C <br />h <br />a <br />n <br />g <br />e <br />HOUSING <br />10 <br />Page 180 of 373