US home construction rebounds 4.3% in May

By Martin Crutsinger, The Associated Press

Posted June 17, 2020 8:38 am.

Last Updated June 17, 2020 8:54 am.

This article is more than 5 years old.

WASHINGTON — US home construction rebounds 4.3% in May after steep declines caused by shutdowns due to the coronavirus.

The Commerce Department reported Wednesday that the May rise in home construction followed declines in April and March.

Home builders are hoping that as the nation re-opens, housing will post a strong recovery, helped by super-low mortgage rates. But some analysts caution that the fledgling rebound could be derailed if cases of the coronavirus spike again, causing potential buyers to put off looking for a new home.

Martin Crutsinger, The Associated Press

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