According to the U.S. Census Bureau privately owned housing starts grew 2.6% in April over March.
In April housing starts reached a seasonally adjusted annual rate of 717,000 compared to March’s estimate of 699,000 which was revised up from 654,000.
The growth in April was primarily driven by higher single-family and multi-family starts compared to the prior month. Single family starts increased 2.3% to 492,000 from 481,000. Multi-family starts rose 3.2% to climb to 225,000 starts.
Housing starts increased 11.7% in the South, 6.7% in the Midwest, 20.7% in the Northeast and dipped 8.1% in the Western United States.
