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Housing starts dip in may.

The Department of Housing and Urban Development (HUD) and the U.S. Census Bureau announced in a June that total housing starts in May slipped by 0.3 percent compared with the revised April estimate. But housing starts still came in 9.5 percent higher than the April 2015 rate of 1,063,000. Single-family housing starts in May were running at a rate that was 0.3 percent higher than the revised April rate. In May, single-family housing starts came in at an annualized rate of 764,000, which was higher than the revised April number of 762.000.

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Building permits for privately owned housing units in May were running at a seasonally adjusted annual rate of 1.138.000. That was 0.7 percent higher than the revised April rate, according to HUD and the Census Bureau.

Housing completions in May came in at a seasonally adjusted annual rate of 988,000. That is 5.1 percent higher than the revised April estimate of 940,000 and 3.5 percent under the May 2015 rate of 1,024,000.

Single-family completions in May were running at a rate of 717,000, which was 2.3 percent higher than the revised April rate.

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Title Annotation:NEWS ROOM
Publication:Mortgage Banking
Date:Jul 1, 2016
Words:206
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