Housing Starts Gain 3.5 Percent in May

Housing Starts and Building Permits for April 2011
	DATE	CURRENT		LAST	% Change	Download Starts and Permits
Starts	6/16/2011	560Th		541Th	3.5%
Permits	6/16/2011	612Th		563Th	8.7%

 Nationwide housing starts rose 3.5 percent to a seasonally adjusted annual pace of 560,000 units in May, according to newly released figures from the U.S. Commerce Department. The gain partially offsets a larger decline that was registered in April.

"While the upward movement registered in today's report is somewhat good news, housing production continues to bounce along the bottom near historic lows, and is only running at a level necessary to replace dilapidated or destroyed units," said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. He also noted that "Amidst this fragile marketplace, the nation's policymakers should be aware of a recent poll that confirms the strong value that most American voters continue to place on homeownership and housing choice." Full story

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