April Housing Construction Rebounds from Poor March

WASHINGTON D.C. - The Commerce Department reported Tuesday that housing construction jumped by 11 percent in April, compared with a 17.6 percent drop reported in March.

Privately-owned housing starts in April were at a seasonally adjusted annual rate of 2.039 million, compared with March's estimate of 1.84 million. Single-family housing starts in April were at a rate of 1.635 million, 6.3 percent above the revised March figure of 1.538 million. The April rate for units in buildings with five units or more was 351,000.

Privately-owned housing completions in April were at a seasonally adjusted annual rate of 1.89 million. This is seven percent above the revised March estimate of 1.766 million, but 3.4 percent below the revised March figure of 1.492 million. The April rate for units in buildings with five units or more was 254,000.

Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 2.129 million, a 5.3 percent increase over the revised March rate of 2.021 million and 2.9 percent above the revised April 2004 estimate of 2.069 million. Single-family authorizations in April were at a rate of 1.634 million. This is 5.3 percent above the revised March figure of 1.552 million. Authorizations of units with five units or more were at a rate of 410,000 in April.