Housing Starts in U.S. Drop 10.6% in April

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According to the  U.S. Census Bureau and the Department of Housing and Urban Development (HUD), new housing starts dipped 10.6% in April 2011.

Building Permits

Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 551,000. This is 4.0 percent (±1.1%) below the revised March rate of 574,000 and is 12.8 percent (±1.2%) below the revised April 2010 estimate of 632,000.

Single-family authorizations in April were at a rate of 385,000; this is 1.8 percent (±1.0%) below the revised March figure of 392,000. Authorizations of units in buildings with five units or more were at a rate of 143,000 in April.

Housing Starts

Privately-owned housing starts in April were at a seasonally adjusted annual rate of 523,000. This is 10.6 percent (±13.0%) below the revised March estimate of 585,000 and is 23.9 percent (±7.0%) below the revised April 2010 rate of 687,000. 

Single-family housing starts in April were at a rate of 394,000; this is 5.1 percent (±10.2%)* below the revised March figure of 415,000. The April rate for units in buildings with five units or more was 114,000.

Housing Completions

Privately-owned housing completions in April were at a seasonally adjusted annual rate of 554,000. This is 4.1 percent (±15.2%) abovev the revised March estimate of 532,000, but is 25.5 percent (±8.6%) below the revised April 2010 rate of 744,000.

Single-family housing completions in April were at a rate of 420,000; this is 14.4 percent (±12.8%) above the revised March figure of 367,000. The April rate for units in buildings with five units or more was 118,000.

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