WASHINGTON (AP) – U.S. home construction rose in April, led by an uptick in single-family homes.
The Commerce Department said Thursday that homebuilding rose 5.7% last month to a seasonally adjusted annual rate of 1.24 million. But housing starts fell 2.5% from a year earlier, suggesting that would-be home buyers are facing a shortage of new houses.
Construction of single-family homes increased 6.2% to 854,000 but was down 4.3% from a year earlier. Building of apartments and condominiums rose 2.3% to 359,000 and was up 1.4% from April 2018.
From March to April, housing starts surged 84.6% in the Northeast and 42% in the Midwest but fell 5.7% in the South and 5.5% in the West.
Housing permits, an indicator of future activity, rose 0.6% to 1.3 million, the first uptick since December.