REUTERS
Lucia MutikanI

WASHINGTON (Reuters) - U.S. homebuilding fell in May, but groundbreaking activity in the prior two months was stronger than previously thought, pointing to some tentative signs of improvement in the struggling housing market.

Land and labor shortages are, however, making it difficult for builders, especially in the single-family housing segment, to fully take advantage of a sharp decline in mortgage rates. That has left the housing market continuing to grapple with tight inventory and sluggish sales growth. Read more