Thursday, June 16, 2011

May Housing Starts Up 3.5% Over April

Housing starts rose a bit in May, 3.5%, following a big drop in April - but March and April figures were revised higher. Both multifamily and single family starts saw increases, with mixed results in different regions: -5.3% in the Northeast, +4.7% in the Midwest, +2.9% in the South, and +3.6% in the West

The level of construction permits increased 8.7% in May, lead by an increase of 29% in multifamily permits and with a moderate pickup in single-family permits. Permits are now down just 5.2% on a year-over-year basis.

Read the press release.

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