Housing Bubble
Housing Starts fall 6.8 percent
Privately-owned housing starts in April were at a seasonally adjusted annual rate of 1,630,000, according to estimates reported today by the U.S. Commerce Department's Census Bureau. This is 6.8 percent below the revised March estimate of 1,748,000, but is 2.7 percent above the April 2002 rate of 1,587,000. Media reports indicated economists had expected a fall of 3.1 percent from March levels.
Single-family housing starts in April 2003 were at a rate of 1,356,000; this is 3.0 percent below the March figure of 1,398,000. The April estimate for units in buildings with five units or more was 244,000.
Building permits
Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,708,000. This is 1.2 percent above the revised March rate of 1,688,000 and is 2.8 percent above the April 2002 estimate of 1,662,000.
Single-family authorizations in April were at a rate of 1,327,000; this is 1.2 percent above the March figure of 1,311,000. Authorizations of units in buildings with five units or more were at a rate of 302,000 in April.
Housing completions
Privately-owned housing completions in April were at a seasonally adjusted annual rate of 1,700,000, according to estimates released jointly today by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is 4.0 percent above the revised March estimate of 1,635,000 and is 3.5 percent above the April 2002 rate of 1,643,000.
Single-family housing completions in April 2003 were at a rate of 1,391,000; this is 5.8 percent above the March figure of 1,315,000. The April rate for units in buildings with five units or more was 276,000.
Source: US Census Bureau
