Eye on housing

New government data on residential construction should provide insight into the state of the new-home market.

The Commerce Department is expected to report Wednesday that builders broke ground on new single-family homes and apartments at a faster pace in May than in the previous month. U.S. home construction slowed in April to the lowest level in five years as the coronavirus pandemic shutdowns disrupted homebuilding, leading to a 30.2% drop in groundbreakings.