Home construction turned up unexpectedly in April. It seems multi family dwelling is growing up. Here is the data from census.gov: http://www.census.gov/briefrm/esbr/www/esbr020.html (I have circled the point the where it started climbing up). Even with the current, it is hardly a great news, given that the number of units started is at the lowest point in this decade. You can see pretty detailed data here: http://www.census.gov/const/newresconst.pdf
WSJ gives some commentary on it here: http://online.wsj.com/article/SB121094058802498537.html?mod=hps_us_whats_news though it exaggerates the stuff a bit.
Interestingly, the home ownership rate decreased in the last one year (maybe due to foreclosures?)