April Housing Starts Up 29.9% YTY

The U.S. Census Bureau said privately-owned housing starts in April were at a seasonally adjusted annual rate of 717,000, 2.6% above the revised March estimate of 699,000 and 29.9% above the revised April 2011 rate of 552,000. Single-family housing starts in April were at a rate of 492,000, 2.3% above the revised March figure of 481,000. The April rate for units in buildings with five units or more was 217,000.

Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 715,000, 7% below the revised March rate of 769,000, but 23.7% above the revised April 2011 estimate of 578,000. Single-family authorizations in April were at a rate of 475,000, 1.9% above the revised March figure of 466,000.