“Builders ramped up construction in April, but they were mostly building multifamily apartment buildings. A monthly report from the U.S. Census Bureau showed total housing starts up 13 percent month to month, but that was driven by a 43 percent monthly jump in buildings with five or more units. Single-family housing starts rose just under 1 percent for the month.  Building permits, which are a better gauge of future construction activity, bode poorly for single-family homes. Those permits are down more than 3 percent from a year ago. This shows builders do not expect demand for single-family homes to strengthen any time soon.”

http://www.cnbc.com/id/101680005

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