Banking Housing Starts Down 9.5% in April | ABA Banking...

Housing Starts Down 9.5% in April | ABA Banking Journal

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Housing starts fell to a seasonally adjusted annual rate of 1.569 million in April, according to the U.S. Census Bureau. The decrease was 9.5% below the revised March estimate of 1.733 million but is 67.3% above the April 2020 rate of 938,000.

Housing starts were mixed across the country, falling in the Midwest (9.9%) and West (4.1%) but rising in the Northeast (8.4%) and South (3.9%).

New building permits were 1.760 million in April, 0.3% higher from the previous month and 60.9% higher year-over-year. Single-family building permits decreased 3.8% from the revised March figure.

Housing completions were at a seasonally adjusted annual rate of 1.449 million. This is 4.4% below the revised March estimate of 1.515 million, but is 21.7% above the April 2020 rate of 1.191million.

 

Read the Census release.

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