Housing shouldn’t look at any color but the color of money

Housing shouldn’t look at any color but the color of money

People with bad credit and bad habits should be squeezed out of housing

Who is Nat Hardwick?

Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros

Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Nat Hardwick allegedly used funds for private jets, gambling
W S

Housing starts in April shoot up 30% over last year

The number of housing starts, or homes beginning construction, hit 717,000 in April, up 29.9% from year ago levels, the federal government said Wednesday.

The jump prompted housing analysts to suggest the housing sector is definitely on the mend.

Housing starts also rose 2.6% from March's revised figure of 699,000 starts and nearly 30% from the 552,000 starts recorded in the same month last year, the U.S. Census and Department of Housing and Urban Development said.

Single-family housing completions also rose 20.1% year-over-year, with the nation recording 651,000 home completions in April, compared to 542,000 a year earlier. Home completions also are up 10% from March's revised estimate of 592,000 completions.

Building permits, a reflection of future construction, also shot up 23.7% from last year, reaching 715,000 filings in April, compared to 578,000 last year. From March to April, the rate of filings fell 7%, with the nation recording 769,000 building permit filings in March.

Researchers with economics analysis firm Capital Economics said, "The 2.6% month-to-month rise in housing starts in April, alongside the big upward revisions to earlier data, supports our view that housing is in recovery mode. Driven in particular by the multi-family sector, we expect housing starts to rise further later this year."

kpanchuk@housingwire.com

Recent Articles by Kerri Panchuk

Comments powered by Disqus