Economic Report: Housing starts slip, but permits rise as all signs point to stronger growth ahead

A frame house under construction is shown against a background of blue sky with clouds

The numbers: Builders started new homes at a pace of 1.269 million in May, the Commerce Department said Tuesday, above MarketWatch expectations for 1.23 million starts, but down on April’s pace and down 4.7% on the same month last year.

They applied for permits at a seasonally adjusted annual 1.3 million rate, better than April’s rate and compared to estimates for 1.3 million.

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