Housing Starts Bounce Back After Troubled Spring

housing starts
housing starts

WASHINGTON -- Builders broke ground on more single-family homes and apartments in June, as the home-building industry tried to shake off a historically bad spring.

The Commerce Department says builders began work on a seasonally adjusted 629,000 homes last month, a 14.6 percent increase from May. Still, that's roughly half the 1.2 million homes per year that economists say must be built to sustain a healthy housing market.

Stock futures rose after the report was released.