Housing Starts Post 17.2 Percent Gain in May with West Showing Biggest Increase

Nationwide housing starts rebounded in May from record lows in the previous month, posting a 17.2 percent gain to a seasonally adjusted annual rate of 532,000 units, according to U.S. Commerce Department figures released on June 16. While driven largely by a double-digit gain in the volatile multi-family sector, the uptick also reflected a substantial gain on the single-family side of the housing market and applied consistently to all regions of the country.

“Having drawn down standin

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