US home construction rises 6.8 percent in May

  • June 18, 2013

WASHINGTON (AP) — U.S. builders began construction on more single-family homes and apartments in May, encouraged by more buyers and a scarcity of houses for sale.

The Commerce Department says builders increased housing starts 6.8 percent last month to a seasonally adjusted annual rate of 914,000. That followed a 14.8 percent decline in April. Housing starts are still below March’s pace of more than 1 million — the highest in five years.

Applications for building permits fell 3.1 percent in May to a seasonally adjusted 974,000. That’s still close to the five-year high hit in April.

Single-family home construction rose 0.3 percent last month. That followed two months of declines. Apartment construction, which is more volatile, surged 21.6 percent after a big drop in April.


blog comments powered by Disqus

Fed moves to bar bailouts of failing firms

Pending homes sales edge up in October

PA Mug Co. owner moves to new studio space in Waynesburg

On the money: Making sure green home upgrades pay off

Dakota city that grew on fracking reaching out for more retail

Super Bowl of shopping unfolds

Coat giveaway better than any Black Friday sale

Orders for U.S. durable goods rise strong 3 percent in October

Applications for U.S. unemployment benefits fall to 260,000

Deere’s profit tops forecasts even as its sales fall sharply