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The ABI remained slightly above 50 (neutral) in May 2019 at 50.2 points, with the Midwest region and the Mixed Practice sector in the lead.
In June 2019, the Housing Market Index (HMI) was at 64 with decreased performance in the current, future and traffic components of the index.
In May 2019, housing permits reflected an annual rate of 1.29M, 0.5% down from their year-ago rate with a decrease in Single-family but an increase in Multi-family permits.
Also, housing starts in May 2019 were 4.7% below their year-ago rate with 1.27M starts, with a decrease in Single-family, but an increase in Multi-family starts.
626K new Single-family homes were sold in May 2019, 3.7% below the year-ago rate.
The third estimate of real GDP growth for Q1 2019 was 3.1%, a 0.9% increase from the previous quarter's estimate of 2.2%.
The Associated Builders and Contractors (ABC) reported a 9.0% decrease from March in their Construction Backlog Indicator (CBI) to 8.7 months of backlog in April 2019.