US new residential construction activity increases in April

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for April 2017:

Privately owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,229,000. This is 2.5 percent (±1.1 percent) below the revised March rate of 1,260,000, but is 5.7 percent (±1.4 percent) above the April 2016 rate of 1,163,000. Single-family authorizations in April were at a rate of 789,000; this is 4.5 percent (±0.8 percent) below the revised March figure of 826,000. Authorizations of units in buildings with five units or more were at a rate of 403,000 in April.

Privately owned housing starts in April were at a seasonally adjusted annual rate of 1,172,000. This is 2.6 percent (±8.8 percent) below the revised March estimate of 1,203,000, but is 0.7 percent (±7.0 percent) above the April 2016 rate of 1,164,000. Single-family housing starts in April were at a rate of 835,000; this is 0.4 percent (±8.6 percent) above the revised March figure of 832,000. The April rate for units in buildings with five units or more was 328,000.

Privately owned housing completions in April were at a seasonally adjusted annual rate of 1,106,000. This is 8.6 percent (±10.8 percent)* below the revised March estimate of 1,210,000, but is 15.1 percent (±12.2 percent) above the April 2016 rate of 961,000. Single-family housing completions in April were at a rate of 784,000; this is 4.5 percent (±10.6 percent)* below the revised March rate of 821,000. The April rate for units in buildings with five units or more was 299,000.

Source: HUD

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