WASHINGTON – National housing starts rose 5 percent in May to a seasonally adjusted annual rate of 1.35 million units, according to data from the U.S. Department of Housing and Urban Development and the Commerce Department.
This is the highest starts have been since July 2007.
Single-family and multifamily production are up 9.8 percent and 13.6 percent year to date, respectively.
“We should see builders continue to increase production to meet growing consumer demand even as they grapple with stubborn supply-side constraints, particularly rising lumber costs,” said National Association of Home Builders Chairman Randy Noel.
Housing starts fell 0.9 percent in the South.
The Real Estate Center has annual and monthly building permit data online. The data can be narrowed by state, MSA, and county.
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