Housing Starts Down 11.1% in May, But Permits Up 11.8%

Washington, DC, June 16, 2015—Housing starts fell 11.1% to 1,036,000 in May, according to the Commerce Department; however, permits were up significantly.

The May figure is a 5.1% year over year increase above the May 2014 rate.

Housing permits, however, rose 11.8% to 1,275,000 in May, which suggest that May’s slower rate of starts may simply be a temporary pause.  Year over year, the May permits figure is up 25.4%.