Housing starts fall in AprilHousing starts fell 16.5 percent from March to April, according to USA Today. Construction decreased to a seasonally adjusted annual rate of 853,000 compared with 1.021 million in March.
Single-family construction starts fell 2.1 percent. However, building permit applications, which are viewed as a barometer of future construction, rose 14.3 percent in April to 1.017 million.
Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low. Housing starts also were 13.1 percent higher in April than in April 2012. However, a 1.5 million annual rate still is needed to be considered healthy.
Date : 5/17/2013