The volume of building permits was the highest it’s been in two years. Even more impressive was completed construction, which soared to the highest level in nearly a decade.

Building permits were issued on a preliminary 125,400 privately-owned housing units during all of June — the most since 134,800 were issued in June 2015.

In May 2017, an upwardly revised 113,000 units were authorized in permit-issuing places. The total was an upwardly revised 117,600 in June 2016.

Source: Mortgage Daily