U.S. housing starts fell to an annual pace of 593,000 in May, down 10 percent from April but up 7.8 percent year-over-year. Permit activity in the U.S. hit a one-year low falling 5.9 percent from April to May but remains up 4.4 percent year-over-year.
∙ Housing Starts in U.S. Fell to 593,000 Pace in May [Bloomberg]
∙ U.S. Housing Starts Up But New Permits Decline As Tax Credits Expire [SocketSite]