The 2020 Mid-Year Economic Update_long

Residential Building Permits Up 60.9% Year-Over-Year in April

Privately-owned housing starts in April were up 67.3% compared to the same month a year ago, according to the latest residential construction report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
Workers are working on the roof at construction housing construction

Privately owned housing units authorized by building permits  in April were at a seasonally adjusted annual rate of 1,76,000, which was 0.3% above the March rate of 1,755,000 and 60.9% above the revised rate from April 2020, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Single-family housing authorizations in April were at a rate of 1,149,00, which was 3.8% below the March figure of 1,940,000. Authorizations of units in buildings with five units or more was 559,000 in April.

Privately owned housing starts in April were at a seasonally adjusted annual rate of 1,569,000. This is 67.3% above the April 2020 rate of 938,000 but 9.5% below the revised March estimate of 1,733,000. Single-family housing starts in April were at a rate of 1,087,000; this is 13.4% below the revised March figure of 1,255,000. The April rate for units in buildings with five units or more was 470,000.

Privately owned housing completions in April were at a seasonally adjusted annual rate of 1,449,000. This is 21.7% above the April 2020 rate of 1,191,000 but 4.4% below the revised March  estimate of 1,515,000. Single-family housing completions in April were at a rate of 1,045,000; this is 0.1% above the revised March rate of 1,044,00. The April rate for units in buildings with five units or more was 401,000.

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