Housing starts plunged 12.8% from the revised estimate in March to a seasonally adjusted annual rate of 458,000 after dropping 10.8% the previous month, according to data released today by the US Commerce Department. These starts, annualized based on the monthly rate, sit 54.2% below the revised April 08 rate of 1.001m. Single-family housing starts, which exclude apartment construction, were at 368,000 units annually in April, 2.8% above the previous month’s figure. The gain indicates a slight rebound in single-family housing supply after several months of stagnation and despite a continued slump in total residential construction. Building permits inched down 3.3% from March to a seasonally-adjusted rate of 494,000 units in April. The monthly rate sits 50.2% below the revised April ’08 level  of 991,000 permits. Permits for single-family homes alone rose 3.6% from March to an annualized 373,000. Write to Diana Golobay.

Most Popular Articles

NAR bans “pocket listings”

The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”

Nov 12, 2019 By

Latest Articles

Guild Mortgage promotes 3 employees to top positions

Guild Mortgage, an independent mortgage lender, announced late last week that it has promoted three senior members of its leadership team as it continues to grow.

Nov 19, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please