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July 2017   Volume 43, Number 7      
 

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Housing Starts Decline 2.6 Percent in April

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development published their findings for new residential housing starts in April. Construction of new homes declined in April, marking two straight months of declining activity, marking a five month low.

The Commerce Department says housing starts fell by 2.6 percent in April to a seasonally adjusted annual rate of 1.17 million units. This decline followed a 6.6 percent decline in March.

The number of single-family housing starts in April was 835,000 — 0.4 percent above the revised March figure of 832,000. The April rate for units in buildings with five units or more was 328,000. As of April, homebuilding was at its lowest point since last November. The weakness was led by a large drop in the volatile apartment construction sector.

Until now, housing construction has been one of the few bright spots for the economy. Analysts do expect to see a reversal soon of the current decline in the number of Americans seeking homes, driven by strong employment gains and low unemployment.

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In this issue:

The Best, Worst Metros for Real Estate Investors

Five States with the Highest, Lowest Cost of Living

Americans’ Confidence in Economy Reaches Post-Election Low

EB-5 Program Extended Through September 2017

Flexible Workspace Real Estate Trend Set to Take Off

Home Builders Target Millennials with Lower-Priced Homes

Housing Starts Decline 2.6 Percent in April

Luxury Real Estate Starting to Cool Off

Market Competition Intensifies for Millennial House-Hunters

How Realtors Are Using Mobile Technology



 


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