WASHINGTON - Overall housing starts were at a seasonally adjusted annual pace of 1.97 million units in May, which was down less than 1 percent from April's upwardly revised 1.98 million unit pace, according to statistics from the U.S. Department of Commerce.
"While the overall starts number was essentially flat, both single-family starts and building permits chalked up significant gains last month," said Bobby Rayburn, president of the National Association of Home Builders (NAHB).