Home construction climbs 5% in May: McGraw Hill | Chappaqua Real Estate

At a seasonally adjusted annual rate of $495.7 billion, new construction starts in May advanced 5% from April, according to McGraw Hill Construction.

Much of the uptick came from nonresidential building, which registered moderate growth for the second month in a row after its sluggish performance at the outset of 2013.

During the first five months of 2013, total construction starts on an unadjusted basis were reported at $187.6 billion, down 3% from last year.

Residential building advanced 3% in May to $206.8 billion.

Single-family housing also edged up 2% in May, the company noted.

The rate of activity for single-family housing continues to be high by recent standards, with May up 26% from the average monthly pace during 2012.

By geography, single-family housing in May revealed gains in the Midwest, up 6%; the West, up 5%, and the South Atlantic, up 2%, respectively.


Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » Home construction climbs 5% in May: McGraw Hill | Chappaqua Real Estate.

About robertpaulrealtor 914-325-5758

Realtor in Bedford NY specializing in marketing and selling luxury homes and finding the perfect homes for new buyers. Working in Armonk, Katonah, Pound Ridge, Lewisboro, Chappaqua and North Salem. 914-325-5758 robert.paul@elliman.com
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