May Sees Surge in Housing Starts, Strong Growth in Building Permits | June 20, 2023

Housing starts in May significantly exceeded consensus estimates, with building permits also showing robust growth. Specifically, May saw a monthly increase of 21.7% in housing starts, reaching 1.631 million, which surpasses the expected 1.4 million and the previous figure of 1.34 million (revised from 1.401 million). Similarly, building permits grew by 5.2% on a month-to-month basis, amounting to 1.491 million. This figure is greater than the consensus estimate of 1.433 million and the preceding figure of 1.417 million (revised from 1.416 million). #News #Housing #MarketUpdate