The U.S. Census Bureau has reported that Privately-owned housing starts in April were at a seasonally adjusted annual rate of 891,000. This is -30.2% below the revised March estimate of 1,276,000 and is -29.7% below the April 2019 rate of 1,267,000. Single-family housing starts in April were at a rate of 650,000; this is -25.4% below the revised March figure of 871,000. The April rate for units in buildings with five units or more was 234,000. Permits are the forward-looking part of the report and Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,074,000. This is -20.8% below the revised March rate of 1,356,000 and is -19.2% below the April 2019 rate of 1,330,000. Single-family authorizations in April were at a rate of 669,000; this is -24.3% below the revised March figure of 884,000. Authorizations of units in buildings with five units or more were at a rate of 373,000 in April.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
MONTHLY NEW RESIDENTIAL CONSTRUCTION, APRIL 2020