Building Permits Up 8.7 percent in May

Finally, some good news on the housing front. Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 612,000, according to the U.S. Census Bureau — 8.7 percent above the revised April rate of 563,000 and 5.2 percent above the May 2010 estimate of 582,000. Single-family authorizations in May were at a rate of 405,000, 2.5 percent above the revised April figure of 395,000. Authorizations of units in buildings with five units or more were

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