Single-Family Housing Starts Rise 3.2 Percent in May

Housing Starts and Building Permits for May 2012
	DATE	CURRENT		LAST	% Change	Download Starts and Permits
SF Starts	6/19/2012	516Th		500Th	3.2%
Permits	6/19/2012	780Th		723Th	7.9%

Single-family housing production increased for a third consecutive month and builders pulled more permits for both single- and multifamily construction in May, according to newly released figures from HUD and the U.S. Census Bureau. The data reveals that the seasonally adjusted annual rate of single-family housing starts rose 3.2 percent to 516,000 units – the best pace since December of 2011.

“Today’s report is a good sign that builders are cautiously moving to replenish their depleted inventories of single-family homes in response to increasing buyer demand,” said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. “In certain housing markets across the country, the momentum toward recovery is gradually building, though tough credit conditions and inaccurate appraisal values continue to weigh down that progress.”  Full story

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