US Housing Starts Fall in April; Permits and Completions Rise

On Thursday, the US Census Bureau reported that privately owned housing starts were at a seasonally adjusted annual rate (SAAR) of 1,465,000 in April, a 2.8% decline from March’s revised 1,507,000 but 4.6% above the April 2025 level of 1,400,000. Single-family starts were at a rate of 930,000, a 9.0% decline from March. The rate for units in buildings with five units or more was 529,000.

Building permits, a forward-looking measure, were at a SAAR of 1,442,000 in April, a 5.8% increase from March but 0.2% below the April 2025 level of 1,445,000. Single-family authorizations were at a rate of 872,000, a 2.6% decline from March. Authorizations of units in buildings with five units or more were at a rate of 514,000.

Housing completions were at a SAAR of 1,449,000 in April, 4.8% above March’s revised 1,382,000 but 2.0% below the April 2025 level of 1,479,000. Single-family completions were at a rate of 903,000, a 1.0% decrease from March. The rate for units in buildings with five units or more was 529,000.