Housing Starts Surge Nearly 22% In May
Permits, completions also rise as market enters 'prime season'
Permits, completions also rise as market enters 'prime season'
Sales of new single-family homes rose 4.1% in April from March, and are up nearly 12% YOY.
Increase 2.2% from March, but number of units under construction not enough to fill inventory void.
Starts down 0.8% from February and down 17% from a year earlier.
Supply of houses for sale fell for the fourth straight month.
Supply, labor, and cost issues hamper construction of new homes.
Sales of new single-family homes fell in every region in March from a month earlier.