May housing starts and permits rise, report shows

06/18/2013 | Bloomberg

May housing starts were up 6.8%, and permit applications for single-family homes grew at the fastest pace since May 2008, according to the latest data from the Commerce Department. "The housing recovery is still very much on track, and we're going to see stronger activity in the second half of the year," said Mark Vitner, an economist at Wells Fargo Securities in Charlotte, N.C.

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