New home construction rebounds 4.3% in May

The May rise follows declines seen in April and March

WASHINGTON — US home construction rebounds 4.3% in May after steep declines caused by shutdowns due to the coronavirus.

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The Commerce Department reported Wednesday that the May rise in home construction followed declines in April and March.

Home builders are hoping that as the nation re-opens, housing will post a strong recovery, helped by super-low mortgage rates. But some analysts caution that the fledgling rebound could be derailed if cases of the coronavirus spike again, causing potential buyers to put off looking for a new home.

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