New Residential Construction Starts Advance 5.7% in April
Privately-owned housing starts advance 5.7% in April; completions rise 8.6%.
Building Permits
Privately?owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,440,000. This is 3.0 percent below the revised March rate of 1,485,000 and is 2.0 percent below the April 2023 rate of 1,470,000.
Single?family authorizations in April were at a rate of 976,000; this is 0.8 percent below the revised March figure of 984,000. Authorizations of units in buildings with five units or more were at a rate of 408,000 in April.
Housing Starts
Privately?owned housing starts in April were at a seasonally adjusted annual rate of 1,360,000. This is 5.7 percent (±11.0 percent)* above the revised March estimate of 1,287,000, but is 0.6 percent (±12.3 percent)* below the April 2023 rate of 1,368,000.
Single?family housing starts in April were at a rate of 1,031,000; this is 0.4 percent (±9.5 percent)* below the revised March figure of 1,035,000. The April rate for units in buildings with five units or more was 322,000.
Housing Completions
Privately?owned housing completions in April were at a seasonally adjusted annual rate of 1,623,000. This is 8.6 percent (±10.3 percent)* above the revised March estimate of 1,495,000 and is 14.6 percent (±13.1 percent) above the April 2023 rate of 1,416,000.
Single?family housing completions in April were at a rate of 1,092,000; this is 15.4 percent (±14.9 percent) above the revised March rate of 946,000. The April rate for units in buildings with five units or more was 516,000.
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