Housing Completions See a Ray of Hope

 

Single-family housing completions in April were at a rate of 420,000; this is 14.4 percent (???????(R)???????+???????(R)??????oe???????(R)???????+???????(R)????????12.8 percent) above the revised March figure of 367,000. The April rate for units in buildings with five units or more was 118,000.

Privately-owned housing completions in April were at a seasonally adjusted annual rate of 554,000. This is 4.1 percent (±15.2 percent)* above the revised March estimate of 532,000, but is 25.5 percent (±8.6 percent) below the revised April 2010 rate of 744,000. During that time single unit completions were down 25.5 percent, with 2 to 4 units decreasing 23.8 percent and 5 or more units decreasing 34.8 percent.

The West was the region that fared the best with an overall increase of 13.5 percent for completions and increase of 24.6 percent for single units. The Midwest fared the worst with no change in completions and an increase of 6.1 percent for single units.

– Courtesy of U.S. Census Bureau