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Production of single-family homes increased in April, according to the U.S. Commerce Department. While overall starts fell 12.8% to a record-low seasonally adjusted annual pace of 458,000 units, the Commerce Department said that decline was entirely confined to the multifamily sector, where production fell 46% to a 90,000-unit pace for the month, while single-family starts posted a 2.8% gain to 368,000 units.
Single-family housing starts posted a 2.8% gain to a 368,000-unit pace for the month. At the same time, issuance of single-family permits, which can be an indicator of future building activity, rose 3.6% to 373,000 units.
Regionally, combined single- and multifamily housing starts declined across every part of the United States except the West in April, where a 42.5% gain offset a nearly equivalent decline in the previous month. Starts fell 30.6% in the Northeast, 21.4% in the Midwest, and 21.1% in the South, the report said.
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