Housing Starts Up 3.6% in May

The U.S. government is reporting that privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,572,000, which is 3.6% higher than April’s revised number. However, this figure is 50.3% higher than one year ago. May’s rate for units in buildings with five units or more was 465k. Privately‐owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,681,000, which was 3% lower than April’s revised number. Authorizations of units in buildings with five units or more were at a rate of 494k in May. Continue reading HERE...