Housing Starts Decline in May, Building Permits Rise

Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,138,000. This is 0.7 percent (±1.3%)* above the revised April rate of 1,130,000, but is 10.1 percent (±1.8%) below the May 2015 estimate of 1,266,000. This, according to a joint announcement Friday on new residential construction statistics for May 2016, from the U.S. Census Bureau and the Department of Housing and Urban Development.
Single-family authorizations in May