New home construction held up well in May despite higher mortgage rates, a government report showed Wednesday, as builders showed faith in the housing market, especially for single-family homes.
The Commerce Department reported that overall housing starts edged down to an annual rate of 1.97 million in May from a revised 1.98 million rate in April.
But that was due to a drop in work on apartment buildings; single-family home building actually rose.
Possibilities on the buyside include... CTX/LEN/KBH
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