The completion of new housing units strengthened last month. But new construction slowed, and multifamily dragged down permits.

Permit issuing places issued a preliminary 112,900 building permits for privately owned housing units during just the month of May 2017.

Last month’s activity ascended from an downwardly revised 102,600 the preceding month and an upwardly revised 110,300 a year prior.

Source: Mortgage Daily