Keeping you up to date on the latest data releases.
- Housing Starts
Single-family housing starts jumped 10.2 percent in April, resulting from increases in all regions of the U.S. except for the West. April marks the largest of four consecutive increases and brings the annualized rate of housing starts to 593,000, the highest since August 2008. Despite solid increases in recent months and the fact that the pace of starts is up 55 percent from last year, the current pace is still just 57 percent of its average between 1980 and 2000. So while starts appear to be on a sound path of ascent, they have quite a ways to climb before reaching an acceptable “norm.” Permits for single-family housing starts dropped 10.7 percent in April but are still up 22 percent year-over-year.