Building permits have declined since January. And though housing starts have come in strong, up 7% in March, this was driven by a 31% rise in multifamily starts. Single-family starts were down 4.8%. Bank of America's Michelle Meyer has previously pointed out that in this recovery multi-family rentals are creating a larger part of the housing stock, according to Business Insider.
Economists say housing recovery may be slowing
Source: Business Insider