Housing Starts Surge in April

The U.S. government is reporting that privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,631,000, which is 21.7% higher than April’s revised number and is 5.7% higher than one year ago. May’s rate for units in buildings with five units or more was 624k. Privately‐owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,491,000, which is 5.2% higher than April’s revised number, but is 12.7% lower than one year ago. Authorizations of units in buildings with five units or more were at a rate of 542k in May. Continue reading HERE...