U.S. homebuilding rebounds in May

WASHINGTON — U.S. housing starts rose by 4.3 percent in May, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. The annualized pace of 974,000 units fell short of analyst estimates of 1.1 million units. Most of the gain came from multi-family dwellings, with single-family homes edging up just 0.1 percent. Building permits rose by 14.4 percent to 1.22 million, just shy of the forecast of 1.26 million.