Housing starts declined 0.5 percent in May, the U.S. Department of Commerce reported June 16.(Briefly Noted)(Brief Article)

Land Use Law Report, June, 2004

HOUSING STARTS declined 0.5 percent in May, the U.S. Department of Commerce reported June 16. The drop was attributed to a 10 percent decline in multifamily starts. Single-family starts were up 1.4 percent. Building permits were up 3.5 percent, with single-family permits rising 3.0 percent. Permits for multifamily structures also were up.

By region, the West posted a strong gain in starts, but the other three regions had declines. Sales of new houses continued strong, with a 14.8 percent increase in May over April. The Northeast had a remarkable 53.2 percent jump in sales, followed by the South with a 20.3 percent gain, and the West with a 6.5 percent increase. Sales in the Midwest were unchanged.