Business News Flash – National Construction News

U.S. home construction drops 0.9% in May

 

Number of truck drivers reaches all-time high, but driver shortage persists


Source: Martin Crutsinger,  Associated Press via The Detroit News


 

May saw a sharp drop in construction of single-family homes. Apartment building construction actually rose during the month, but not enough to offset the decline, which analysts say was caused by a shortage of both building lots and skilled construction workers.

According to the HUD and the U.S. Census Bureau, construction started on 1.27 million homes and apartments. However, applications for building permits did rise 0.3%.

 

 


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