NAHB Says Massive Decline in April Multi-Family Starts Hides Gain in Single-Family Housing Starts

Production of single-family homes edged upward in April as builders responded to improving conditions for new-home buyers, according to the U.S. Commerce Department. While overall starts fell 12.8 percent to a record-low seasonally adjusted annual pace of 458,000 units, the decline was entirely confined to the multi-family sector, where production fell 46 percent to a 90,000-unit pace for the month, while single-family starts posted a 2.8 percent gain to 368,000 units.

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