US Housing Starts Rise More Than Expected in April

Housing starts in the Unites States rose 6.6 percent to a seasonally adjusted annual rate of 1172 thousand in April 2016, compared to an upwardly revised 1099 thousand in the previous month. The figure came in above market expectations of 1127 thousand, boosted by single-family housing starts.

Figures for March were revised to show housing starts slumped 9.4 percent compared to an initial 8.8 percent fall.

In April, starts of single family houses rose 3.3 percent to 778 thousand and starts of buildings with five units or more jumped 10.7 percent to 373 thousand. Housing starts rose the most in the Midwest (+22.2 percent), followed by the South (+14.1 percent) while dropped in the West (-10 percent) and the Northeast (-7.6 percent).

Meanwhile, building permits went up 3.6 percent to 1116 thousand from 1077 in March, following a 7.3 percent drop in the previous month but lower than an expected 4.3 percent gain. Single-family permits were up 1.5 percent to 736 thousand and authorizations in buildings with five units or more climbed 9.4 percent to 348 thousand. Increases were recorded in all regions: the West (+4.7 percent), the South and the Midwest (+3.3 percent each) and the Northeast (+3 percent). 

Year-on-year, housing starts fell 1.7 percent and building permits dropped 5.3 percent.

US Housing Starts Rise More Than Expected in April

U.S. Census Bureau | Joana Ferreira |
5/17/2016 1:49:50 PM