US Housing Market Shows Mixed Signals in April

In an unexpected turn, housing starts in the United States experienced a 1.6% increase in April, reaching 1,361,000, as reported by the US Census Bureau. However, this figure represents a 1.7% decrease compared to the same period last year, highlighting the volatile nature of the current housing market.

Single-Family Housing Starts Take a Hit

Contrasting the overall rise, single-family housing starts saw a significant monthly drop of 5.1%, settling at 927,000. This decline underscores the challenges facing the single-family segment amidst fluctuating market conditions.

Building Permits and Completions Follow Downward Trend

Building permits fell by 4.7% in April to 1,412,000, marking a 3.2% decrease from April 2024. Single-family permits also decreased by 5.1% month-on-month to 922,000. Housing completions weren't spared, with a 5.9% monthly and a 12.3% annual drop to 1,458,000. Single-family completions dipped 8% to 943,000, further illustrating the sector's struggles.