Homebuilding Dragged Down by Supply Problems; Rates Are Flat And Calm

Housing starts fell back from the annual rate of 1,733,000 units reported for March. Residential starts in April were down 9.5 percent to a seasonally adjusted annual rate of 1,569,000 units. This was also a slight rollback for the March estimate, which was originally reported at 1,739,000 million units. At that level, they were the highest since June 2006 and represented a 19 percent jump from February. Even with April’s pullback, starts during last month are up 67.3 percent from a year earlier when the nation was in the midst of the pandemic lockdown. After the surge in April, a slight retreat was anticipated, but analysts surveyed by Econoday had expected they would remain above 1.7 million. The Census Bureau/Housing and Urban Development report, however, came in below their lightest estimates
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