Residential Construction Numbers Bounce Back From Dismal March

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Posted To: MND NewsWire

Permits for residential construction reversed a four-month slide in April and housing starts bounced back from a sharp March decline. The increases in the two key residential construction indicators released today by the U.S. Census Bureau and the Department of Housing and Urban Development will probably quiet some of the concerns over the springs housing momentum that were raised by a poor March report. Privately-owned housing permits were issued in April at a seasonally adjusted annual rate of 1,116,000, a 3.6 percent increase from March when permits were down by 7.7 percent. However, that original March permit estimate was further revised down from 1,086,000 to 1,077,000. April permits were running 5.3 percent below permits in April 2015 which were at the rate of 1,178,000 units. Analysts…(read more)

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