Washington - Strong growth in multifamily housing starts in the first half, coupled with a decline in single-family housing starts, showed where electronic systems contractors (ESCs) have potential to grow.
The number of single-family housing starts in June fell only 0.5 percent from the year-ago period to 45,300, but the first-half year-over-year decline was 16.9 percent to 213,200, new Census Bureau statistics show.
Multifamily housing starts, on the other hand, soared in June and the first half. Starts of structures with two or more dwelling units rose year-over-year in June by 113 percent to 17,700 and in the first half by 56 percent to 77,500. That followed full-year 2010 growth of 6.2 percent to 115,700.
At 213,200, however, the number of first-half single-family housing starts remained significantly higher than first-half multifamily housing starts of 77,500.
Combined single-family and multifamily starts were up in June by 16.9 percent to 62,900 compared with June 2010, and for the first six months of 2011, combined starts were down 5 percent year over year to 290,700.