U.S. housing starts on rebound

WASHINGTON — The rate of U.S. housing starts in June (seasonally adjusted) was 1,215,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The June rate represents an 8.3% increase from the revised May estimate of 1,122,000 and is 2.1% higher than the June 2016 rate of 1,190,000. Building permits in the same month were issued for units at a rate of 1,254,000, up 7.4% from May and 5.1% from June of last year. Despite the gains, builders remain wary of rising costs of materials including lumber.