Tuesday, May 18, 2010

Housing Starts Up 5.8%, Single Family Starts Up 10.2%

In April, housing starts rose 5.8 percent to an annualized pace of 672,000 units. This is a rate not seen since 2008. The increase was driven by a large surge in starts of single-family units, which jumped 10.2 percent. The far more volatile multi-family component fell by 18.6 percent after a large jump of over 22 percent in March. From a year prior, single family starts were up 52.8 percent. Total starts were up 40.3 percent.

Though total starts showed a large increase in April, the rise may be temporary. New building permits, which tend to lead future starts, fell by 11.5 percent.

10.05.18 (Source: Census Bureau)

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