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Construction Starts Pulled Back in April Due to Supply Problems
Tuesday, May 18, 2021
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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