U.S. Housing Starts Fall 15.4% in May on a Seasonally Adjusted Annualized Basis

U.S. housing starts fell 15.4% in May on a month-over-month basis at a seasonally adjusted annualized rate. According to Jin10, the market consensus expectation was for a 2% decline. The prior reading was revised to a 8.5% decline from an initially reported 2.80% drop.