Privately owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of approximately 2.1 million units, according to estimates reported today by the U.S. Commerce Department's Census Bureau, up 3.5 percent above the revised April rate of 2 million units and 12.5 percent above the May 2003 estimate of 1.85 million units. Single-family authorizations in May were at a rate of 1.6 million, a 3 percent increase from the April figure of 1.5 million. Authorizations of units in buildings with five units or more were at a rate of 390,000 in April. Privately owned housing starts in May were at a seasonally adjusted annual rate of 1.97 million units. This is 0.7 percent below the revised April estimate of 1.98 million, but is 12.5 percent above the May 2...
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