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Single family housing permits, the most leading of indicators, increased a notable 4.0% from April to 494K single family units (SAAR), and increased 19.9% above the level seen in May 2011 but still remained an astonishing 72.53% below the peak in September 2005.
Single family housing starts increased 3.2% from April to 516K units (SAAR), and climbed 26.2% above the level seen in May 2011 and remained a stunning 71.70% below the peak set in early 2006.