Plunge in Housing Starts to Create ‘Emergency’? Daily Real Estate News | Monday, June 19, 2017 After strong single-family home starts earlier this year, new-home construction is showing signs of softening. The Commerce Department reports that housing starts nationwide, including single-family and multifamily production, dropped 5.5 percent month over month in May to a seasonally adjusted annual rate of 1.09 million units. Single-family production alone decreased 3.9 percent last month to 794,000 units, and single-family permits, a gauge of future construction activity, was down 1.9 percent to 779,000 units. “Housing shortages look to intensify and may well turn into a housing emergency if the discrepancy between housing demand and housing supply widens further,” says Lawrence Yun, chief economist for the National Association of REALTORS®. “The falling housing starts and housing permits in May are befuddling given the lack of homes for sale and the quick pace o