Single-family Starts Rise in May

NationalMortgageNews reports the Census Bureau released figures stating single-family housing starts rose 3.2 percent in May to a seasonally-adjusted annual rate of 516,000, above the saar of 500,000 for April. This marks the third consecutive monthly increase. Single-family starts are up 26% overall from a year ago. Meanwhile, multi-family starts, up almost 32% from a year ago May, fell to a 179,000 seasonally-adjusted annual rate from April’s rate of 236,000, MHProNews has learned.

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