Housing Completions Take a Tumble
Single-family housing completions in May were at a rate of 491,000; this is 9.4 percent (±13.8%)* below the revised April figure of 542,000. - Courtesy of The Glen
It’s going to take the housing market a few more months to recover, as the influx of foreclosures dissipates and people can secure loans again.
Privately-owned housing completions in May were at a seasonally adjusted annual rate of 811,000. This is 3.3 percent (±20.6%)* below the revised April estimate of 839,000 and is 28.8 percent (±11.1%) below the May 2008 rate of 1,139,000. The May rate for units in buildings with five units or more was 314,000. – Courtesy of U.S. Census Bureau
