Categories: Chappaqua

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.

Home construction climbs 5% in May: McGraw Hill | HousingWire.

Robert Paul

Robert is a realtor in Bedford NY. He has been successfully working with buyers and sellers for years. His local area of expertise includes Bedford, Pound Ridge, Armonk, Lewisboro, Chappaqua and Katonah. When you have a local real estate question please call 914-325-5758.