Nationwide, developers took out fewer building permits for single-family homes in May compared with the month before, according to the latest federal statistics.Building permits for homes were issued at a seasonally adjusted rate of 1.1 million, down 1.8 percent from April, a report released Tuesday by the Commerce Department shows. That dip isn’t surprising considering that builder confidence is at its lowest point since early 1991. New home sales are way down, as builders continue to try and rid themselves of excess inventory and feel the impact of stricter lending standards.

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