Privately-owned housing starts in May were at a seasonally adjusted annual rate of 914,000. This is 6.8 percent above the revised April estimate of 856,000 and is 28.6 percent above the May 2012 rate of 711,000. Single-family housing starts in May were at a rate of 599,000, which is 0.3 percent above the revised April figure of 597,000, but multifamily production bounced back from an April slump with a 21.6 percent gain to 315,000 units. The May rate for units in buildings with five units or more was 306,000.
Privately-owned housing completions in May were a little softer at a seasonally adjusted annual rate of 690,000, 0.9 percent below the revised April estimate of 696,000, but 12.6 percent above the May 2012 rate of 613,000. Single-family housing completions in May, at a rate of 546,000, were 4.2 percent above the revised April rate of 524,000. The May rate for units in buildings with five units or more was 135,000.
