Housing Economics - 06/17/2008 (Plain Text Version)

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In this issue:
May Housing Starts Down 3.3 Percent
The Seiders' Report: A Housing Overview by the NAHB's Chief Economist
Quick Read: Housing Statistics
Need Metro Forecasts for 2008-2009?

May Housing Starts Down 3.3 Percent

Housing starts slid 3.3% in May to a seasonally adjusted 975,000, their lowest level in more than 17 years. Work on new single-family units decreased 1% in May to a 674,000 pace, also the lowest in 17 years, while multifamily starts dropped 8% to an annual rate of 301,000. Authorizations for building permits declined about 1% in May to a 969,000 pace.

Housing Starts and Building Permits for May 2008
	DATE	CURRENT		LAST	% Change	Download Starts and Permits
Starts	6/17/2008	975Th		1.008M	- 3.3%
Permits	6/17/2008	969Th		982Th	- 1.3%

Housing starts slid 3.3% in May to a seasonally adjusted 975,000, their lowest level in more than 17 years.  Work on new single-family units decreased 1% in May to a 674,000 pace, also the lowest in 17 years, while multifamily starts dropped 8% to an annual rate of 301,000.  Authorizations for building permits declined about 1% in May to a 969,000 pace.

Read additional information and download data (Excel) for Housing Starts & Permits.

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