Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

U.S. Housing Starts Down in April, Industry Remains Confident
May 19, 2004
 Printable format
 Email this Article
 Search

U.S. housing starts decreased slightly to a seasonably adjusted annual rate of 1.969 million units in April, the Commerce Department reported. The pace was 2.1 percent less than March's revised rate of 2.011 million, but 20.3 percent higher than April 2003.

"Builders remain confident about the market as demand for single-family homes and condominiums remains strong, even as mortgage rates begin to edge up," said Bobby Rayburn, president of the National Association of Home Builders (NAHB).

NAHB Chief Economist David Seiders added: "Momentum in the housing market is as strong as ever. Housing starts in March were boosted by an unusual swing in weather conditions, and the April pace actually was above the average for the first quarter of last year.

"On the financing front, mortgage rates have risen from their March lows but remain quite favorable on an historical basis," Mr. Seiders continued. "Furthermore, stronger growth in jobs and income is supporting housing demand, and that pattern should continue throughout the year."

Single-family housing starts decreased 0.6 percent to a pace of 1.610 million units for April. This was an 18.1-percent increase over the April 2003 pace.

Multi-family housing starts decreased 8.4 percent to a seasonally adjusted rate of 359,000 units for the month. The multi-family pace was 31.0 percent above a year earlier.

The pace of construction of new homes and apartments increased across all U.S. regions but the West, which fell by 13.7 percent.

For the month, issuance of total building permits increased 1.2 percent from March to a seasonably adjusted rate of 1.999 million units. This was 11.2 percent above April 2003. Single-family permit issuance decreased by 0.7 percent from the March pace, while multi-family permits were up 8.3 percent.

"Buyer demand is strong, inventories of unsold houses are lean, and there's a sizeable backlog of unused building permits,” Mr. Seiders said. "This bodes well for housing production in the coming months."

Back to Daily News

 

Daily News

...........................................................

Oct 30, 2014: Whirlpool Corp. reports strong third-quarter

Oct 30, 2014: Statistical Portrait of the European Appliance Industry Released by Appliance Magazine

Oct 30, 2014: New Whirlpool acquisition Indesit reports profit for year so far

Oct 30, 2014: Consumer Confidence Index rebounds in October

Oct 29, 2014: New home sales up slightly in September 2014

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows