WASHINGTON -- Construction on new US homes rose 2.6 percent in April to an annual rate of 717,000 units, while building permits fell seven percent to 715,000 -- one month after reaching a near four-year high, the government reported Wednesday.
Economists surveyed by MarketWatch expected housing starts in April to rise to a total 690,000 on a seasonally-adjusted basis. Housing starts in March were revised up sharply to 699,000 from 654,000, while permits were revised up to 769,000 -- the highest level since September 2008 -- from an original reading of 747,000.
In April, permits for single-family homes, which account for three-quarters of the housing market, edged up 1.9 percent to an annual rate of 475,000. Permits for new construction are viewed as a gauge of future demand.
To read more, go to MarketWatch
MarketWatch, building permits
No comments:
Post a Comment