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US May housing starts rose more than expected to 1350K vs 1311K expected, a rise of 5% to 11 year highs. However building permits fell  4.6%. Housing numbers have been falling for a few months after a big jump in 2017 with the Fed raising rates.

hammer and nailsHighlights

Housing Starts

  • Housing starts for May 1350K vs. 1311K expected.
  • Housing starts are new 11 year highs.
  • Housing starts prior month revised slightly lower to 1286K from 1287K
  • Housing starts rose 5% on the month after declining -3.1% last month 
  • Single-family starts rose 3.9% to 936,000 units.
  • Multi family starts rose 7.5% to 414,000 units 

Building Permits

  • Building permits 1301K vs. 1350K expected
  • Building permits prior month stayed steady at 1364K.
  • Building permits fell -4.6% after a -0.9% decline last month
  • Ssingle-family permits fell -2.2% to 844,000 units.
  • Multifamily permits fell -8.8% to 457, 000 units

From The TradersCommunity News Desk

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