New home construction falls by 8% in June

COLUMBIA, S.C. (CNN)—New home construction in the U.S. fell 8% last month.

Housing starts dropped to a seasonally adjusted annual rate of 1.43 million which is below economists’ expectations.

The June cool-off was quite a turn-around from May’s surprising surge.

That came as low inventory in the existing home market continued to boost interest in new homes.