The U.S. Commerce Department released the housing market data on Tuesday. Housing starts in the U.S. climbed 6.6% to 1.172 million annualized rate in April from a 1.099 million pace in March, exceeding expectations for an increase to 1.130 million. March’s figure was revised up from 1.089 million units.
The increase was driven by rises in starts of single-family and multi-family homes.
Housing market benefits from the strengthening of the labour market.
Building permits in the U.S. rose 3.6% to 1.116 million annualized rate in April from a 1.077 million pace in March, missing expectations for a 1,140 million pace. March’s figure was revised up from 1.076 million units.
Starts of single-family homes rose 3.3% in April. Building permits for single-family homes were up 1.5%.
Starts of multi-family buildings jumped 13.9% in April. Permits for multi-family housing climbed 8.0%.
The post Housing starts in the U.S. climb 6.6% in April appeared first on forex-analytics.press.