The 2020 Mid-Year Economic Update_long

Housing Starts Down 16% From Last April

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following residential construction statistics for April 2007:




Year-to-Date Percent Change (through April 2007)





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-25.1%


&nbsp ;
Permits -18.2% -29.1% -27.9% -26.3%

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Building Permits
Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,429,000. This is 8.9 percent (& plusmn; 1.4%) below the revised March rate of 1,569,000 and is 28.1 percent (& plusmn; 1.5%) below the revised April 2006 estimate of 1,987,000.

Single-family authorizations in April were at a rate of 1,063,000; this is 6.0 percent (& plusmn; 1.3%) below the March figure of 1,131,000. Authorizations of units in buildings with five units or more were at a rate of 306,000 in April.

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&nbsp ;
Housing Starts
Privately-owned housing starts in April were at a seasonally adjusted annual rate of 1,528,000. This is 2.5 percent (& plusmn; 9.3%)above the revised March estimate of 1,491,000, but is 16.1 percent (& plusmn; 5.5%) below the revised April 2006 rate of 1,821,000.
&nbsp ;
Single-family housing starts in April were at a rate of 1,225,000; this is 1.6 percent (& plusmn; 9.5%)* above the March figure of 1,206,000. The April rate for units in buildings with five units or more was 267,000.
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Housing Completions
Privately-owned housing completions in April were at a seasonally adjusted annual rate of 1,523,000. This is 5.8 percent (& plusmn; 8.3%)* below the revised March estimate of 1,616,000 and is 26.0 percent (& plusmn; 5.9%) below the revised April 2006 rate of 2,058,000.
&nbsp ;
Single-family housing completions in April were at a rate of 1,261,000; this is 3.4 percent (& plusmn; 8.6%)* below the March figure of 1,306,000. The April rate for units in buildings with five units or more was 222,000.The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following residential construction statistics for April 2007:

Year-to-Date Percent Change (through April 2007)

&nbsp ; Northeast Midwest South West
Housing Starts -16.8% -40.2% -24.5%
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