Housing starts fell in April

Housing starts fell 2.6 percent from March to April, according to the U.S. Census Bureau. Construction decreased to a seasonally adjusted annual rate of 1.172 million compared with a revised estimate of 1.203 million in March.

Single-family housing starts rose 0.4 percent. Building permit applications, which are viewed as a barometer of future construction, decreased 2.5 percent in April to 1.229 million.

Housing starts are well above the April 2009 annual rate of 478,000, which was the recession low, and they were 0.7 percent higher in April than in April 2016. A 1.5 million annual rate still is needed to be considered healthy.

Date : 5/17/2017