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Housing starts recovered in May after falling more than 9 percent in April but permitting had another lackluster month. The U.S. Census Bureau and Department of Housing and Urban Development report that residential units were started at a seasonally adjusted annual rate of 1.572 million, a 3.6 percent improvement on the revised (from 1.569 million) rate of 1.517 million in April. Starts are running 50.3 percent ahead of the rate in May 2020. May's results were slightly lower than expected. Analysts polled by Econoday had a consensus estimate of 1.630 million. The forecasts ranged from 1.500 to 1.735 million. Construction was begun on single-family houses at an annual rate of 1.098 million, a 4.2 percent gain from April's revised rate of 1.054 million and up 49.8 percent year-over-year. The
Rob Chrisman
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Broker and Lender Services and Products Faster applications = happier borrowers = loyal customers. VOE+VOIs are an unnecessary pain in the you know what when it comes to processing faster applications. Improve the borrower experience with faster VOE/... (read more)
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Housing News
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Housing starts recovered in May after falling more than 9 percent in April but permitting had another lackluster month. The U.S. Census Bureau and Department of Housing and Urban Development report that residential units were started at a seasonally ... (read more)
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Housing News
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The latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) dropped 2 points in June. The Index, a measure of home builders' confidence in the market for newly built homes, fell to 81, its lowest reading since last ... (read more)
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National Associattion of Realtors
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National Associattion of Realtors
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