In April, the U.S. Census Bureau reported that housing starts reached a seasonally adjusted annual rate of 1,360,000 units. This represents a 5.7% increase from the revised March estimate of 1,287,000 units but is down by 0.6% compared to last year.
The multifamily construction segment experienced more significant fluctuations on a monthly and yearly basis. While starts were up by over 30% in March at an adjusted pace of 322,000 units, they were down nearly half from April of last year.
Building permits also saw decreases across all categories in April with an annualized rate of 1,440
