HOUSING CONSTRUCTION RISES
Private construction numbers were on the rise this spring, according to reports from the U.S. Department of Commerce. Privately owned housing starts in May rose to 1,733,000, which was 11.6 percent above the revised April estimate of 1,553,000. Single-family housing starts in May 2002 were at a rate of 1,389,000, which was 9.6 percent above the revised April figure of 1,267,000.
In May, completions for privately owned houses were at an adjusted rate of 1,692,000, according to estimates released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This was 2.3 percent above the revised April estimate of 1,654,000. The completions for single-family housing units were 1,359,000 in May. This was 6 percent above the revised April figure of 1,282,000.
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