April Housing Starts Up 2.2% from March but Down 22.3% YOY

Washington, DC, May 17, 2023-Privately‐owned housing starts in April were at a seasonally adjusted annual rate of 1,401,000, 2.2% above the revised March estimate of 1,371,000 but 22.3% below the April 2022 rate of 1,803,000, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Single‐family housing starts in April were at a rate of 846,000; this is 1.6% above the revised March figure of 833,000. The April rate for units in buildings with five units or more was 542,000.

Privately‐owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,416,000. This is 1.5% below the revised March rate of 1,437,000 and is 21.1% below the April 2022 rate of 1,795,000. Single‐family authorizations in April were at a rate of 855,000; this is 3.1% above the revised March figure of 829,000. Authorizations of units in buildings with five units or more were at a rate of 502,000 in April.

Privately‐owned housing completions in April were at a seasonally adjusted annual rate of 1,375,000. This is 10.4% below the revised March estimate of 1,534,000, but is 1.0% above the April 2022 rate of 1,361,000. Single‐family housing completions in April were at a rate of 971,000; this is 6.5% below the revised March rate of 1,039,000. The April rate for units in buildings with five units or more was 400,000.