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16.06.2015 13:14 U.S. housing market is mixed in May

 

The U.S. Commerce Department released the housing market data on Tuesday. Housing starts in the U.S. declined 11.1% to 1,036 million annualized rate in May from a 1,165 million pace in April, exceeding expectations for a rise to 1.019 million. April's figure was revised up from 1,135 million units.

 

 

The decline was driven by a falls in both starts of single-family and multi-family homes.

 

 

Building permits in the U.S. climbed 11.8% to 1.275 million annualized rate in May from a 1.140 million pace in April. It was the highest level since August 2007.

 

 

Analysts had expected building permits to increase to 1.100 million units.

 

 

Starts of single-family homes dropped 5.7% in May. Building permits for single-family homes rose 2.6%.

 

 

Starts of multifamily buildings plunged 20.2% in May. Permits for multi-family housing jumped 24.9%.

 

 

Housing market activity may accelerate this year due to the improvements in the labour market.



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