US home construction climbed 5.7% in April | KOB 4
Advertisement

US home construction climbed 5.7% in April

US home construction climbed 5.7% in April Photo: AP

By PAUL WISEMAN
May 16, 2019 07:51 AM

WASHINGTON (AP) — U.S. home construction rose in April, led by an uptick in single-family homes.

Advertisement

The Commerce Department said Thursday that homebuilding rose 5.7% last month to a seasonally adjusted annual rate of 1.24 million. But housing starts fell 2.5% from a year earlier, suggesting that would-be home buyers are facing a shortage of new houses.

Construction of single-family homes increased 6.2% to 854,000 but was down 4.3% from a year earlier. Building of apartments and condominiums rose 2.3% to 359,000 and was up 1.4% from April 2018.

From March to April, housing starts surged 84.6% in the Northeast and 42% in the Midwest. Analysts at Contingent Macro Advisors noted that both regions "saw a rebound following harsh winter weather." But construction fell 5.7% in the South and 5.5% in the West. The regional construction numbers can jump around from month to month.

Housing permits, an indicator of future activity, rose 0.6% to 1.3 million, the first uptick since December. Permits were down 5% from April 2018. Single-family home permits skidded 4.2% in April from March and were down 9.4% from a year earlier.

Credits

By PAUL WISEMAN

Copyright 2019 The Associated Press. All rights reserved.

Advertisement
Comment on Facebook

Share 4 - News Tips - Photos - Videos
  Share a News Tip, Story Idea, Photo, Video



Advertisement


Advertisement

Advertisement




19-year-old faces child porn charges for recording, sharing graphic Snapchat video

Balderas believes previous investigations failed Epstein's alleged NM victims

Off the grid: NM author shares story of living 12 years in the wilderness

APD says someone blew up an encyclopedia, causing a scare

KOB 4 footage aids investigators in cold case