WASHINGTON — Housing starts in May increased to a seasonally adjusted annual rate of 1.73 million units, up 6.1 percent from the previous month, the U.S. Department of Commerce reported.
"After some weather-related delays in April, builders were able to pick up the pace of new construction in May," commented Kent Conine, president of the National Association of Home Builders (NAHB). "However, unusually wet weather in much of the East and parts of the Midwest and West likely still kept some construction in check last month, and we could see that activity carry over for additional solid gains in June's report."