“Nationwide housing production fell by 6.5 percent in May to a seasonally adjusted annual rate of just over 1 million units, according to new figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Single-family housing starts dropped 5.9 percent to a seasonally adjusted annual rate of 625,000 units. Multifamily housing starts decreased 7.6 percent to 376,000.
“The dip in single-family production shows builders continue to move carefully in adding inventory,” said Kevin Kelly, chairman of the National Association of Home Builders (NAHB). “They are also facing supply chain issues, such as access to lots and labor…”
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“May Housing Starts Drop, But Home Builders Optimistic”
Hardwood Floors Magazine
June 18, 2014