Housing Starts Rise 2.2% in April

This article was originally written by Doug Short. From 2016-2022, it was improved upon and updated by Jill Mislinski. Starting in January 2023, AP Charts pages will be maintained by Jennifer Nash at Advisor Perspectives/VettaFi.

The U.S. Census Bureau and the Department of Housing and Urban Development have now published their findings for April new residential housing starts. The latest reading of 1.401M was just above Investing.com's forecast of 1.400M and is a 2.2% increase from the March's revised figure of 1.371M. Housing starts are down 22.3% compared to this time last year.

Here is the opening of this morning's monthly report:

Privately‐owned housing starts in April were at a seasonally adjusted annual rate of 1,401,000. This is 2.2 percent (±11.9 percent)* above the revised March estimate of 1,371,000, but is 22.3 percent (±8.7 percent) below the April 2022 rate of 1,803,000. Single‐family housing starts in April were at a rate of 846,000; this is 1.6 percent (±12.3 percent)* above the revised March figure of 833,000. The April rate for units in buildings with five units or more was 542,000. [link to report]