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Thinkpad (AXcess News) Washington - Total housing starts rebounded from a
13-month low to increase 5.0 percent in May as builders worked down
a backlog of unfilled orders under unusually good weather
conditions. Issuance of new building permits fell by 2.1 percent,
continuing the moderate downslide from the peak last September.
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Microsoft The pace of new-home construction rose to a seasonally adjusted
annual rate of 1.957 million units, according to figures released
by the Commerce Department today. This was 3.8 percent below the
pace of a year ago. At the same time, permit issuance dipped to a
monthly rate of 1.932 million units. This was 8.5 percent behind
the May 2005 pace.
The orders index rose 0.7 to 60.3 and prices paid dipped nicely to 68.0 and just below forecasts of 69.0.
Laptop Computers "NAHB's surveys of builders have been showing a decline in
confidence since the middle of last year, and builders have been
drawing down the backlog of unused permits for houses sold
earlier," said David Pressly, president of the National Association
of Home Builders (NAHB) and a home builder from Statesville, N.C.
"Many builders have reported that they are offering incentives in
an effort to limit the number of potential cancellations."
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Laptop Computer "The rebound in total housing starts for May primarily reflected
typical volatility in the multifamily market, and the modest
increase in single-family starts largely reflected a build-out of
units that had been sold and permitted earlier," said NAHB Chief
Economist David Seiders. "Strong numbers in the South and West
regions may also have been supported by some rebuilding in the wake
of last year's record-breaking hurricane season."
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Desktop Computer Single-family housing starts were up 2.1 percent in May to a
pace of 1.586 million units for the month. Multifamily housing
construction rose 19.7 percent for the month to a seasonally
adjusted pace of 371,000 units.
Notebooks Three of four regions reported increases in housing starts for
the month. Construction of new homes and apartments rose 1.7
percent in the Northeast, 8.5 percent in the South and 15.8 percent
in the West. Housing starts were down 15.8 percent in the Midwest,
following a sizeable increase in April.
Lenovo "Today's reported increase in housing starts is not inconsistent
with an ongoing moderate erosion of housing market activity, a
pattern shown by both today's permit numbers and NAHB's surveys of
single-family home builders," Seiders said. "The builders still are
reporting reductions in housing demand, and we expect both housing
starts and building permits to lose some ground as 2006
progresses."
Hard Drive Single-family permit issuance was down 2.1 percent on a national
basis to a pace of 1.466 million units. The pace of multifamily
permit issuance also dipped 2.1 percent to a pace of 466,000 units
for the month.
Travelstar Source: NAHB
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