Housing posted 3.6% gain

Builders battle a surge in lumber prices that have made homes more expensive.

June 16, 2021 - 9:06 AM

In an effort to spark construction of more homes like this one owned by Floyd and Sharlyn Thompson in LaHarpe, the LaHarpe PRIDE Committee is hosting a Home Fair at 1:30 p.m. Jan. 18 at LaHarpe City Hall.

WASHINGTON (AP) — U.S. home construction rose 3.6% in May as builders battled a surge in lumber prices that have made homes more expensive.

The May increase left construction at a seasonally adjusted annual rate of 1.57 million units, the Commerce Department reported today.

Applications for building permits, looked to for indications of activity ahead, fell 3% in May to a seasonally adjusted annual rate of 1.68 million units.

Housing has been one of the standout performers during the pandemic-triggered recession.

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