Privately-owned housing starts in May were at a seasonally adjusted annual rate of 532,000. This is 17.2 percent (±14.4%) above the revised April estimate of 454,000, but is 45.2 percent (±5.8%) below the May 2008 rate of 971,000.
US Department of Commerce. May’s number is below December, which was second highest in the past six months, next to February’s reading of 574.

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