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Residential Housing Starts Warm 2.6 Percent in April

Housing completions climb 10 percent from March.


The early spring has helped the struggling housing market regain some traction going into summer. Privately-owned housing starts tracked at nearly 30 percent higher than the same time a year ago. Housing completions added impetus as well for a growing number of buyers who are not interested in repo properties. Completions of new single-family homes were trending 11.4 percent ahead of March.

BUILDING PERMITS
Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 715,000. This is 7.0 percent (±1.0%) below the revised March rate of 769,000, but is 23.7 percent (±1.9%) above the revised April 2011 estimate of 578,000.

Single-family authorizations in April were at a rate of 475,000; this is 1.9 percent (±1.1%) above the revised March figure of 466,000. Authorizations of units in buildings with five units or more were at a rate of 217,000 in April.

HOUSING STARTS
Privately-owned housing starts in April were at a seasonally adjusted annual rate of 717,000. This is 2.6 percent (±14.8%)* above the revised March estimate of 699,000 and is 29.9 percent (±15.2%) above the revised April 2011 rate of 552,000.

Single-family housing starts in April were at a rate of 492,000; this is 2.3 percent (±11.9%)* above the revised March figure of 481,000. The April rate for units in buildings with five units or more was 217,000.

HOUSING COMPLETIONS
Privately-owned housing completions in April were at a seasonally adjusted annual rate of 651,000. This is 10.0 percent (±16.7%)* above the revised March estimate of 592,000 and is 20.1 percent (±18.0%) above the revised April 2011 rate of 542,000.

Single-family housing completions in April were at a rate of 489,000; this is 11.4 percent (±13.6%) above the revised March figure of 439,000. The April rate for units in buildings with five units or more was 158,000.

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