Housing starts went up 17.2% in May to an annual rate of 518,000, compared with April, according to the latest figures from the U.S. Census Bureau and the Department of Housing and Urban Development.
The number is 45.2% below May 2008.
Single-family housing starts in May were at a rate of 401,000, 7.5% above April. The May rate for units in buildings with five units or more was 124,000.
Housing units authorized by building permits were at a seasonally adjusted annual rate of 518,000, 4% above April and 47% below May 2008. Single-family authorizations in May were 7.9% above April. Authorizations of units in buildings with five units or more were at a rate of 92,000 in May.
Privately-owned housing completions in May were at a seasonally adjusted annual rate of 811,000, 3.3% ...