Housing starts in the United States dropped 9.8% in May compared to the previous month's revised estimate, and stood at 1,256,000, the US Census Bureau said in its report published on Wednesday. Compared to the same month of the year prior, the figure decreased by 4.6%.
When it came to single-family homes, housing starts reached 920,000 in the reported month, rising 0.4% month-over-month. Building permits slumped 2% to land at 1,393,000, and were 1% lower than in May 2024. Single-family permits fell 2.7% on a monthly basis to stand at 898,000 in the reported month.
Housing completions climbed 5.4% compared to April and stood at 1,526,000, while falling 2.2% annually. Single-family completions jumped 8.1% to 1,027,000.
