Housing starts up 6.8% in May
June 18, 2013
Housing construction data for May was mixed with housing starts up 6.8% over April but permits for future residential construction down 3.1%. Starts and permits are both strong compared to May 2012, however, rising 28.6% and 20.8%, respectively.
Starts were at a seasonally adjusted annual rate of 914,000 — down from the recent high in March but still among the highest rate since mid-2008. Starts were up in the South and the West but down in the Northeast and Midwest. Likewise, while the seasonally adjusted annual rate of 974,000 permits was down from the recent high in April, it was the second-highest rate since mid-2008. Permits were up the Northeast but down slightly in the other regions.
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