May Housing Construction Increases Jun 16, 2009

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Construction of new homes in the United States increased in May by 17.2 percent, said a U.S. Commerce Report. Construction of new homes and apartments increased in May to a seasonally adjusted annual rate of 532,000 units. Construction of multifamily units rose 61.7% in May to an annual rate of 131,000 units. Construction rose in West increased by 28.6%, the report said. It increased 6.8% in the South, 11.1% in the Midwest, and 2% in the Northeast.

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