U.S. housing starts dipped in May, somewhat reversing a higher than initially reported April rebound, according to figures released Tuesday by the Commerce Department.
The department put the number of privately owned housing starts at a seasonally adjusted annual rate of 708,000 for May.
While the May figure is 4.8 percent below the revised April estimate of 744,000, much of that drop comes as a result of revised figures that put the April rebound in housing starts notably higher than the 717,000 rate initially reported.
The revised figures put the April housing starts at the highest rate since October 2008.
Nevertheless, most economists had hoped to see at least a small continuation of the growth in May, forecasting an annual rate of housing starts at 720,000.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.