Notizie economiche
16.05.2024

U.S. housing starts rise less than predicted in April

The monthly report on new residential construction from the Commerce Department showed on Thursday that housing starts increased by 5.7 per cent m-o-m in April to a seasonally adjusted annual pace of 1.360 million, while building permits dropped by 3.0 per cent m-o-m to a seasonally adjusted annual rate of 1.440 million (the lowest level since December 2022).

Economists had forecast housing starts of 1.420 million units for April and building permits of 1.480 million units.

Data for March was revised to show homebuilding increasing at a pace of 1.287 million units, instead of rising at a rate of 1.321 million units as originally announced.

According to the report, permits for single-family homes, the largest segment of the market, dropped by 0.8 per cent m-o-m in April, while approvals for the multi-family homes segment (includes 2 to 4 and 5 or more housing units) plunged by 7.4 per cent m-o-m.

In the meantime, groundbreaking on single-family homes decreased by 0.4 per cent m-o-m in April, while multi-unit starts surged by 31.4 per cent m-o-m.

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