The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for April 2014. According to the data, building permits for privately-owned housing units in April were at a seasonally adjusted annual rate of 1,080,000, up 8.0 percent from the revised March rate of 1,000,000. Compared to last year, the rate was up 3.8 percent from the April 2013 rate of 1,040,000. Building permits for single-family housing in April were estimated at 602,000, up 0.3 percent from the revised March rate of 600,000. Building permits for units in buildings with five units or more in April were at a rate of 453,000.
In April, privately-owned housing starts were at an adjusted rate of 1,072,000, up 13.2 percent from March’s revised estimate of 947,000 and up a remarkable 26.4 percent from the April 2013 rate of 848,000. Single-family housing starts were at a rate of 649,000 in April, up 0.8 percent from the revised March rate of 644,000. For units in buildings with five units or more, the April rate was 413,000.
As for housing completions, the April rate for privately-owned housing was at a seasonally adjusted annual estimate of 847,000, dropping 3.9 percent from March’s revised rate of 881,000, but up 21.2 percent from the April 2013 estimate of 699,000. Single-family housing completions were at a rate of 602,000 for April, putting it 2.4 percent below March’s revised rate of 617,000. The housing completion rate for units in buildings with five units or more was at 242,000 in April.
For more information, click here to read the full U.S. Census Bureau/U.S. Department of Housing & Urban Development Press Release for April 2014.