HOMZ - Housing Permits Pick Up In May Outlook Improving
By Robert Hughes
Housing activity improved modestly in May as starts and permits posted gains. However, the results were uneven across the major regions. Nevertheless, low mortgage rates and easing lockdown restrictions are giving a boost to homebuilder confidence.
Total housing starts rose to a 974,000 annual rate from a 934,000 pace in April, a 4.3 percent increase. The dominant single-family segment, which accounts for about two-thirds of new home construction, rose 0.1 percent for the month to a rate of 675,000. Starts of multifamily structures with five or more units increased by 16.9 percent