U.S. housing starts slide 9.5 percent in April
High materials costs are pricing buyers out of the market.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for April 2021:
Building Permits
Privately‐owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,760,000. This is 0.3 percent (±1.2 percent)* above the revised March rate of 1,755,000 and is 60.9 percent (±1.8 percent) above the April 2020 rate of 1,094,000.
Single‐family authorizations in April were at a rate of 1,149,000; this is 3.8 percent (±1.0 percent) below the revised March figure of 1,194,000. Authorizations of units in buildings with five units or more were at a rate of 559,000 in April.
Housing Starts
Privately‐owned housing starts in April were at a seasonally adjusted annual rate of 1,569,000. This is 9.5 percent (±10.8 percent)* below the revised March estimate of 1,733,000, but is 67.3 percent (±21.6 percent) above the April 2020 rate of 938,000.
Single‐family housing starts in April were at a rate of 1,087,000; this is 13.4 percent (±7.9 percent) below the revised March figure of 1,255,000. The April rate for units in buildings with five units or more was 470,000.
Housing Completions
Privately‐owned housing completions in April were at a seasonally adjusted annual rate of 1,449,000. This is 4.4 percent (±8.6 percent)* below the revised March estimate of 1,515,000, but is 21.7 percent (±15.8 percent) above the April 2020 rate of 1,191,000.
Single‐family housing completions in April were at a rate of 1,045,000; this is 0.1 percent (±8.4 percent)* above the revised March rate of 1,044,000. The April rate for units in buildings with five units or more was 401,000.
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