Privately owned housing starts rose 6.8 percent in May to 914,000, according to the U.S. Department of Commerce. This is 28.6 percent above May 2012. Single-family starts were up 0.3 percent from April to 599,000.
Privately owned housing starts rose 6.8 percent in May to 914,000, according to the U.S. Department of Commerce. This is 28.6 percent above May 2012. Single-family starts were up 0.3 percent from April to 599,000.
"Unusually wet weather across much of the country likely dampened the pace of single-family production in May," said National Association of Home Builders Chief Economist David Crowe in a statement. "Nevertheless, the strength in permit issuance for single-family units-and stockpiling of permits for future use-provides further evidence that housing continues on a slow and steady path to recovery."
Privately owned housing units authorized by permits fell to 974,000, down 3.1 percent from April's 1,005,000, but single-family permits increased 1.3 percent to 622,000.
Total housing completions fell 0.9 percent to 690,000 in May. Single-family completions were up 4.2 percent to 546,000.
