02:35 PM EDT, 07/18/2025 (MT Newswires) -- Housing starts rose by 4.6% to a 1.321 million annual rate in June, compared with expectations for a smaller increase, with single-family housing starts lower and multi-family starts higher.

Building permits rose by 0.2% to a 1.397 million rate in June. As with starts, single-family permits declined while multi-family permits increased. Homes permitted but not started increased by 0.7%, suggesting starts could improve further in the coming months.

However, the number of homes under construction and completions both declined in the month, which should subtract from the supply of homes for sale in the near term. Completions were 24.1% below their year-ago level.

The preliminary Michigan Sentiment index rose to 61.8 in July from 60.7 in June.

According to Michigan, consumers' assessment of current conditions and the near-term outlook both improved in the month as inflation expectations improved.

However, uncertainty remains, and Michigan said that a significant improvement in sentiment is unlikely until there is greater clarity in the trade picture.

The Q2 GDPnow estimate from the Atlanta Fed is for a 2.4% gain, unrevised from the previous report on Thursday. The next estimate is scheduled for July 25.