Last Update: 19-May-20 08:53 ET
- Housing starts fell 30.2% m/m in April to a seasonally
adjusted annual rate of 891,000 (Briefing.com consensus 950,000).
permits were down 20.8% m/m to a seasonally adjusted annual rate of 1.074 million
(Briefing.com consensus 1.000 mln).
- Permits for single-family homes declined 24.3%
m/m and were down 16.4% yr/yr. Single-family starts declined 25.4% m/m and were
down 24.8% yr/yr.
- Permits for single-family units by region:
Northeast (-45.5%), Midwest (-16.2%), South (-20.3%), and West (-33.2%)
- Single-family starts by region: Northeast
(-66.0%), Midwest (-13.3%), South (-15.0%), and West (-41.6%)
- The number of units under construction at the
end of the period decreased 1.7% to 1.195 million.
key takeaway from the report is that while building permits exceeded
expectations, permits for single-family dwellings decreased 24.3% m/m to 669,000,
which points to a slowing market.