Housing starts declined another 10.6% in April, according to Commerce Department data, reversing the gains of the prior month and coming in well below most analysts’ estimates. On a seasonally adjusted basis, starts fell to 523,000 last month down from a revised 585,000 for March and nearly 24% lower than 687,000 a year earlier. Analysts polled by Econoday were expecting housing starts of 570,000 last month with a range of estimates between 549,000 and 583,000. Economists surveyed by Briefing.com projected starts of 530,000 for April. In a joint release, the Census Bureau and Department of Housing and Urban Development said single-family starts decreased 5.1% to a seasonally adjusted rate of 394,000 units down from a revised 415,000 for March. April’s decrease comes on the heels of a 7.2% increase in March. Starts dropped 22.5% in February, which was the largest monthly decline since March 1984. Building permits in April fell 4% to an annual rate of 551,000 from a revised 574,000 for the prior month. Write to Jason Philyaw.
Jason Philyaw was a reporter with HousingWire through mid-2012.see full bio
Most Popular Articles
Latest Articles
From resilience to antifragility: Rethinking cybersecurity for real estate and mortgage professionals
In information security, we’ve long spoken about resilience. The goal has been to withstand an attack, recover quickly, and return to business as usual. But in today’s environment—where attackers adapt and evolve daily—resilience is no longer enough. We must go further. We must embrace antifragility.
-
From local to global: RE/MAX’s Chris Lim on the next era of real estate relationships
-
Stop marketing like it’s 2008: You’re invisible
-
RE/MAX accelerates real estate innovation with AI and technology
-
Retirement plans for small-business owners have visible generational gaps
-
VA loans rise as housing market shifts toward buyers
Jason Philyaw was a reporter with HousingWire through mid-2012.see full bio
