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16 May

US multiple-unit housing starts surge on-month

April US new construction data reveal a dramatic month-on-month gain in housing starts for multiple unit dwellings, while figures on housing completions and building permits paint a mixed picture, Kallanish learns from the Census Bureau. The April rate of housing starts for buildings with five or more units was 322,000, up 31.4% on-month, but down 32.9% year-on-year. April privately owned housing starts tallied at an annualised rate of 1.36m, a gain of 5.6% m-o-…
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