Freddie Mac Weekly Economic Update from Rich Moroscak of EagleBank:

Housing Starts, Existing-Home Sales Weaker-Than-Expected in June

According to the Census Bureau, housing starts fell unexpectedly in June to a seasonally adjusted annual rate of 836,000 units, a decline of 9.9 percent from May. The June pace of housing starts is the slowest since August 2012. The volatile multifamily sector drove the decline, with starts falling 26.2 percent, but single-family starts also weakened, dropping 0.8 percent to a seasonally adjusted annual rate of 591,000 units in June. All regions recorded a decline in starts this month.

Permits fell 7.5 percent in June to a seasonally adjusted annual rate of 911,000 units. However, of positive note, single-family permits increased 0.6 percent and have now increased in 14 of the last 15 months. Completions increased 6.3 percent in June. All three measures of residential construction (starts, permits, and completions) are up strongly…

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Tania Hosmer

Tania grew up in Northern Virginia and is a life long resident of the area. She has lived in the Reserve in McLean, Virginia with her husband and 2 children since 2001. Tania and her husband Jim purchased their lot in Section 1 of the Reserve in June of 1999 and built their home in the following 18 months. She holds a bachelor’s degree in Physics from Mary Washington College and an MBA in Finance from The George Washington University. Tania began her real estate career over 20 years ago. In addition to real estate sales, her experience includes managing residential renovation projects in the greater Washington area, planning and overseeing new residential construction and managing rental properties. After completing her MBA in 1996, she joined CIG International (a Washington-based residential real estate investment firm) as Vice President where she conducted extensive due diligence investigations of real estate investment opportunities and oversaw ongoing investment projects. Tania became a residential real estate agent in 2006.

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