Housing starts plummet in April

Residential construction data released today shows the lowest figures for housing starts in five months. Permits, however, were up.

April starts fell to 853,000.

Housing starts fell back below a million. In fact, they’re well below a million.

Data released Thursday morning by the Commerce Department shows total housing starts for April at a seasonally adjusted annual rate of 853,000, down 16.5% from the March figure.

Analysts expected a decline -- but not that much. Expectations were for an SAAR of about 970,000. 

Things weren’t that much better in the single-family metric, which showed April starts at a rate of 610,000, down 2.1% from the March rate.

Compared to a year ago, total housing starts were up 13.1%.

Building permits showed improvement -- up 14.3% to a rate of 1.02 million.


- 1:40 PM
a.oconnor@cox.net says

Lower than expected starts are more than likely the influence of negative year over year "weather conditions for the month" rather than a true trend.....especially since the permits point to a healthy future. No need to panic over a month...the trend is still positive when put into the proper context.

- 1:42 PM
kkerski says

Why did you go for the drama? Housing is up from last year and trend shows upward slant. The economy needs a push forward with positive reliable facts. If people trust your opinion you just told everyone to start saving, stop spending.

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