U.S. homebuilding fell in January as the construction of multi-family housing projects dropped, but upward revisions to the prior month's data and a jump in permits to a one-year high suggested the housing recovery remained on track.
U.S. housing starts slipped in May as the construction of multi-family housing units dropped, but further gains in building permits suggested a rebound that would continue to support economic growth in the second quarter.
U.S. consumer prices recorded their biggest increase in more than three years in April as gasoline and rents rose, pointing to a steady inflation build-up that could give the Federal Reserve ammunition to raise interest rates later this year. Other data on Tuesday showed housing starts rose more than expected last month, with builders ramping up the construction of single and multi-family homes, suggesting the economy was regaining steam early in the second quarter.
U.S. home resales fell more than expected in October, with large declines in regions which have experienced the biggest price gains, but the underlying trend suggested housing remained on firmer footing.