U.S. Census Bureau Reports Record Low New Home Construction Numbers for April 2009

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(News Source: U.S. Census Bureau)

(WASHINGTON, D.C.) -- The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for April 2009:

BUILDING PERMITS

Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 494,000.

This is 3.3 percent (±2.3%) below the revised March rate of 511,000 and is 50.2 percent (±1.4%) below the revised April 2008 estimate of 991,000.

Single-family authorizations in April were at a rate of 373,000; this is 3.6 percent (±2.2%) above the revised March figure of 360,000. Authorizations of units in buildings with five units or more were at a rate of 103,000 in April.

HOUSING STARTS

Privately-owned housing starts in April were at a seasonally adjusted annual rate of 458,000.   This is 12.8 percent (±13.0%) below the revised March estimate of 525,000 and is 54.2 percent (±6.0%) below the revised April 2008 rate of 1,001,000.

Single-family housing starts in April were at a rate of 368,000; this is 2.8 percent (±16.3%) above the revised March figure of 358,000. The April rate for units in buildings with five units or more was 78,000.

HOUSING COMPLETIONS

Privately-owned housing completions in April were at a seasonally adjusted annual rate of 874,000.   This is 4.9 percent (±16.6%) above the revised March estimate of 833,000, but is 15.0 percent (±13.6%) below the revised April 2008 rate of 1,028,000.

Single-family housing completions in April were at a rate of 549,000; this is 0.2 percent (±14.9%) above the revised March figure of 548,000.   The April rate for units in buildings with five units or more was 313,000.

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