kschulze
- Housing Starts dropped 5.5% M/M in May to 1.277M, well below the 1.373M consensus and down from 1.352M in April (revised from 1.360M), according to the U.S. Census Bureau.
- Single-family housing starts in May ran at a rate of 982K in May, or 5.2% below the revised April figure of 1.036M.
- Building Permits declined 3.8% M/M to 1.386M, missing the 1.450M consensus, from 1.440M prior (unchanged).
- The rate for single-family authorizations was 949K, or 2.9% lower than the revised April figure of 977K.
- Privately owned housing completions in May were 1.514M, 8.4% below the revised April estimate of 1.652M, but 1.0% above the May 2023 rate of 1.499M.
- Single-family housing completions were at a rate of 1.03M, 8.5% below the revised April rate of 1.122M, the U.S. Census Bureau said.