The Traderszone Network

Published in TZ Latest News 17 June, 2014 by The TZ Newswire Staff

U.S. housing starts, permits fall more than expected in May

U.S. housing starts and building permits fell more than expected in May, suggesting the housing recovery will likely remain slow for a while. Groundbreaking for homes fell 6.5 percent to a seasonally adjusted annual pace of 1 million units, the Commerce Department said on Tuesday. Groundbreaking for single-family homes, the largest part of the market, fell 5.9 percent in May to a 625,000-unit pace, while starts for the volatile multi-family homes segment decreased 7.6 percent to a 376,000-unit rate.

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