Arab Today, arab today us housing starts rise 66 percent in april
Last Updated : GMT 16:02:43
Arab Today, arab today
Arab Today, arab today

US housing starts rise 6.6 percent in April

Arab Today, arab today

Arab Today, arab today US housing starts rise 6.6 percent in April

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US new home starts and building permits rebounded in April, a signal that housing market may gain some momentum after a sluggish first quarter.

The U.S. Department of Commerce said on Tuesday that U.S. privately-owned housing starts were at a seasonally adjusted annual rate of 1,172,000 in April, rising 6.6 percent from the revised March figure, but 1.7 percent lower than the year-ago level.

Single-family housing starts in April were at a rate of 778,000, 3.3 percent above the revised March figure.

Privately-owned housing units authorized by building permits, a gauge of future construction, were at a seasonally adjusted annual rate of 1,116,000, an increase of 3.6 percent from the revised March rate.

Sales of new single-family homes fell 1.5 percent in March to a seasonally adjusted annual rate of 511,000 in the United States, a third straight fall, said the U.S. Commerce Department last month.

Housing was a bright spot in the U.S. economy in 2015, contributing more than a quarter of a percentage point to gross domestic product growth.

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