Housing starts, permits drop in May

Reuters

Declines uneven across regions; multi-family sheds most

Builder Magazine

Housing starts in May fell 5.5% from April to a seasonally adjusted annual rate of 1,092,000, 2.4% behind the pace of May, 2016, the Commerce Department reported Friday. Building permits also fell in May, dropping 4.9% from April to a rate of 1,168,000, 0.8% below the May 2016 rate.

Single-family housing starts in May were at a rate of 794,000, 3.9% below April but 8.5% above the rate of May, 2016. The May rate for units in buildings with five units or more was 284,000, down 9.8% from April and down 25.7% from a year earlier. Single-family permits fell 1.9% to a rate of 779,000 but remained 6% ahead of the May 2016 pace.

Continued:

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.