In the News – Single-Family Starts Flat in May
The May pace of single-family housing starts was effectively flat relative to April after downward revisions for prior months, standing at a seasonally adjusted annual rate of 764,000. However, according to estimates from the Census Bureau and the Department of Housing and Urban Development, the May rate marks a 10% gain in the pace of single-family construction on a year-over-year basis.
Yesterday’s increase in the NAHB/Wells Fargo Housing Market Index suggests the industry will expand single-family home construction in the months ahead.
For more information see NAHB