Surprise fall in U.S. housing starts and permits for AprilStaff Writer | May 17, 2017
U.S. housing starts fell unexpectedly at the start of the year, possibly due to the shift in the timing of Easter and the passing of unusually warm fall and winter weather.
America Total housing started increased by 5.7%
Housing starts in the States declined by 2.6% month-on-month in April to reach an annualised pace of 1.172m, according to the Department of Commerce.
To take note of, single-family starts were up by 0.4% to 835,000, a positive sign, while those for multi-family homes were running at 328,000, a 9.6% fall versus March.
Total housing started increased by 5.7% year-on-year.
Permits for housing construction shrank by 2.5% on the month to reach 1.229m, putting them 5.7% ahead of their year-ago level.
Single family home permits fell 4.5% on the month to 789,000, versus a rise of 1.5% in those for multi-family homes to 403,000. ■