Housing Starts in U.S. Probably Climbed in June as Rates Fell

Builders probably broke ground on U.S. homes in June at the fastest pace in almost four years, indicating the outlook for residential real estate is brightening, economists said before a report today.

Housing starts rose 5.2 percent last month to a 745,000 annual pace, the strongest since October 2008, according to the median estimate of 79 economists surveyed by Bloomberg News. Building permits, a proxy for future construction, dropped 2.4 percent to a 765,000 rate, the survey showed.