Housing starts rise in April

Housing starts rose 13.2 percent from March to April, according to the U.S. Census Bureau. Construction increased to a seasonally adjusted annual rate of 1.07 million compared with 947,000 in March.

Single-family housing starts rose 0.8 percent. Building permit applications, which are viewed as a barometer of future construction, rose 8 percent in April to 1.08 million.

Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low. And housing starts were 26.4 percent higher in April than in April 2013. However, a 1.5 million annual rate still is needed to be considered healthy.

Date : 5/21/2014