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Sunday, August 19, 2018
HomeNewsEconomyNew Residential Construction Mixed: Housing Starts, Building Permits Fall

New Residential Construction Mixed: Housing Starts, Building Permits Fall

New residential homes are shown under construction in Carlsbad, California September 19, 2011. (Photo: Reuters)
New residential homes are shown under construction in Carlsbad, California September 19, 2011. (Photo: Reuters)

New residential homes are shown under construction in Carlsbad, California September 19, 2011. (Photo: Reuters)

The new residential construction report was mixed, though the U.S. Census Bureau said housing starts and building permits fell. Completion were up and the data for single-family homes remain consistent.

Building Permits

Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,352,000. This is 1.8% (±1.3 percent) below the revised March rate of 1,377,000, but is 7.7% (±0.9%) above the April 2017 rate of 1,255,000. Single-family authorizations in April were at a rate of 859,000; this is 0.9% (±1.4%)* above the revised March figure of 851,000. Authorizations of units in buildings with five units or more were at a rate of 450,000 in April.

Housing Starts

Privately-owned housing starts in April were at a seasonally adjusted annual rate of 1,287,000. This is 3.7% (±11.4%)* below the revised March estimate of 1,336,000, but is 10.5% (±9.7%) above the April 2017 rate of 1,165,000. Single-family housing starts in April were at a rate of 894,000; this is 0.1% (±11.8%)* above the revised March figure of 893,000. The April rate for units in buildings with five units or more was 374,000.

Housing Completions

Privately-owned housing completions in April were at a seasonally adjusted annual rate of 1,257,000. This is 2.8% (±10.1%)* above the revised March estimate of 1,223,000 and is 14.8% (±10.5%) above the April 2017 rate of 1,095,000. Single-family housing completions in April were at a rate of 820,000; this is 4.0% (±9.2%)* below the revised March rate of 854,000. The April rate for units in buildings with five units or more was 425,000.

Written by
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