Robust demand fueled by continuing low mortgage rates and favorable economic conditions kept new-home construction humming along at a high pace in May.
According to U.S. Commerce Department figures, housing starts edged up 0.2 percent to a seasonally adjusted annual rate of 2.009 million units for the month. This was 1.8 percent above the pace of a year ago.
Single-family home construction led the way with a 4.7 percent increase to a pace of 1.704 million units for the month,
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