Housing starts jump, both single and multi-family

Housing starts in May totaled 1.631mm which was well above the estimate of 1.4mm, partially offset by a downward revision of 60k to April. Single family starts jumped to just under 1mm at 997 from 841 in April and that is the most since last June. For perspective it was at 1.039mm in February 2020. Multi family starts also added to the monthly upside as…