Home builders started and completed construction on housing units last month at an improved rate. But housing permit activity slowed and could weaken further due to tariffs.

In places where permits are issued, there were 124,900 new privately owned units, including single-family and multifamily units, authorized during May.

Including last month’s activity, there have been 550,600 housing units authorized from Jan. 1, 2018, through the end of May. The year-to-date one-unit count came to 363,700.

Source: Mortgage Daily