Single Family Home Starts Stall Out At 0 Point 8 Percent April Growth

Dated: May 16 2014

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Single-family housing starts stalled out in April, rising just 0.1%. If builders and the industry were looking for a break out of pent-up home demand, it wasn’t there.

Overall, starts advanced with a 13.2% monthly jump, but that was almost entirely due to a 40% spike in multifamily rental projects. The 1.072 million unit pace was up 26.4% on a year-ago basis. Analysts expected 0.980 million units for April, according to the U.S. Census Bureau.

The April surge was all multifamily. The single-family component edged up a mere 0.8% in April, following a 9.3% jump the prior month.
Housing permits gained 8%, following a 1.1% dip the prior month. The annualized rate of 1.080 million units topped expectations for 1.020 million units and was up 3.8% on a year-ago basis. Again, strength was in the multifamily component which was up 19.5% while the single-family component rose a modest 0.3%. Read More Here...
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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

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