Housing Starts Up in May
Washington, DC, June 18, 2013—
Privately-owned housing starts in May were at a seasonally adjusted annual rate
of 914,000, 6.8% above the revised April estimate of 856,000 and 28.6% above the
May 2012 rate of 711,000, according to the Commerce Department.
Single-family housing starts in May
were at a rate of 599,000, 0.3% above the revised April figure of 597,000.
Work on multifamily projects such as apartment
buildings increased 21.6% to an annualized rate of 315,000. Two of four regions
had an increase in starts last month, including a 17.8% jump in the South and a
5.7% gain in the West.
Starts dropped 13.7% in the Midwest, which may have
been due to wetter-than-normal weather in the region, according to Bloomberg
Another report showed the cost of living in the
U.S. rose less than forecast last month. The consumer-price index climbed 0.1% after
falling 0.4% in April, the Labor Department said.