Building permits for housing soar to pre-financial crisis levels

Building permits for residential construction jumped nearly 12 percent in May to an annual rate of 1.28 million, the highest level since 2007.

That’s a sign that home builders are acting on their improved confidence in the housing market.

Building permits for single-family houses were issued at a seasonally adjusted annual rate of 683,000; multifamily permits — buildings with five or more units — totaled 557,000, according to the Commerce Department.

Housing starts fell in May to a annual… …read more