Electricalmarketing 414 20160520emstartsmap595

April Housing Data Mixed, with 6.6% Monthly Increase But 1.7% YOY Decline

May 20, 2016
Privately-owned housing starts in April were at a seasonally adjusted annual rate of 1,172,000, 6.6% above the revised March estimate of 1,099,000, but 1.7% below the April 2015 rate of 1,192,000.

The U.S. Census Bureau said privately-owned housing starts in April were at a seasonally adjusted annual rate of 1,172,000, 6.6% above the revised March estimate of 1,099,000, but 1.7% below the April 2015 rate of 1,192,000. Single-family housing starts in April were at a rate of 778,000, 3.3% above the revised March figure of 753,000. The April rate for units in buildings with five units or more was 373,000.

Robert Dietz , chief economist, National Association of Home Builders, Washington, D.C., said in a press release, “Though housing construction data is relatively flat for the beginning of 2016, we anticipate a ramping up of housing production during the rest of the year, given a strengthening job market, low mortgage interest rates and favorable demographics.”