Residential Construction Activity Moves Up in April


The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the new residential construction statistics for April 2015.

Building Permits

Privately owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,143,000. This is 10.1 percent (±2.2 percent) above the revised March rate of 1,038,000, and is 6.4 percent (±2.1 percent) above the April 2014 estimate of 1,074,000. Single-family authorizations in April were at a rate of 666,000; this is 3.7 percent (±0.9 percent) above the revised March figure of 642,000. Authorizations of units in buildings with five units or more were at a rate of 444,000 in April.

Housing Starts

Privately owned housing starts in April were at a seasonally adjusted annual rate of 1,135,000. This is 20.2 percent (±14.4 percent) above the revised March estimate of 944,000 and is 9.2 percent (±10.6 percent) above the April rate of 1,039,000. Single-family housing starts in April were at a rate of 733,000; this is 16.7 percent (±10.0 percent) above the revised March figure of 628,000. The April rate for units in buildings with five units or more was 389,000.

Housing Completions

Privately owned housing completions in April were at a seasonally adjusted annual rate of 986,000. This is 20.4 percent (±14.1 percent) above the revised March estimate of 819,000 and is 19.4 percent (±15.2 percent) above the April 2014 rate of 826,000. Single-family housing completions in April were at a rate of 688,000; this is 14.5 percent (±12.4 percent) above the revised March rate of 601,000. The April rate for units in buildings with five units or more was 288,000.

For more information, visit www.hud.gov.

FineHomesBrokers.com

Reprinted with permission from RISMedia. ©2015. All rights reserved.

About FineHomesDigest

The Fine Homes Team, Mark Finchem, Associate Broker with Long Realty Company, provides service to buyers, seller and builders where fine homes are concerned. With extensive experience in residential real estate transactions we can help you with the home you'd rather have.
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