US housing starts reach highest level in over a decade

US housing starts reach highest level in over a decade  

Residential housing starts rose 5 percent month-over-month in May, the highest rate since June 2007, according to new statistics released Tuesday by the U.S. Bureau of Labor Statistics and the U.S. Department of Housing and Urban Development (HUD). Despite the increase, economists are saying the numbers are still not as high as they should be, heading into the summer sales season.