Housing starts fell back from the annual rate of 1,733,000
units reported for March. Residential starts in April were down 9.5 percent to
a seasonally adjusted annual rate of 1,569,000 units. This was also a slight
rollback for the March estimate, which was originally reported at 1,739,000
million units. At that level, they were the highest since June 2006 and represented
a 19 percent jump from February. Even with April’s pullback, starts during last
month are up 67.3 percent from a year earlier when the nation was in the midst
of the pandemic lockdown. After the surge in April, a slight retreat was anticipated,
but analysts surveyed by Econoday had expected they would remain above
1.7 million. The Census Bureau/Housing and Urban Development report, however,
came in below their lightest estimates. The consensus was 1.705,000 units with
a range from 1,600,000 to 1,770,000.


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