WASHINGTON, DC — New home construction jumped almost 12% in May, the biggest percentage increase in housing starts in nearly seven years, according to a U.S. Department of Commerce report.
The increase was the biggest since July 1995. The seasonally adjusted annual rate of 1.73 million units includes 1.39 million single-family housing starts, a boost of about 10%. Building permits rose 2.6%.
Publication date: 06/17/2002
John Hall is the Business Editor. E-mail him at firstname.lastname@example.org.