Housing Economics - 05/16/2008 (Plain Text Version)

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In this issue:
Multifamily Starts Rise 36 Percent but Single Family Numbers Fall Further
The Seiders' Report: A Housing Overview by the NAHB's Chief Economist
Quick Read: Housing Statistics
Building Permits & Employment Data for 361 Metropolitan Areas
Need Metro Forecasts for 2008-2009?

Multifamily Starts Rise 36 Percent but Single Family Numbers Fall Further

Total housing starts rose 8.2 percent in April to a seasonally adjusted annual rate of 1.032 million as construction of multifamily units jumped 36 percent following a 35 percent drop in the previous month. However, construction of new single-family units fell 2 percent in April to an adjusted 692,000, their lowest level in 17 years. Both single and multifamily permits advanced in April.

Housing Starts and Building Permits for April 2008

DATE

CURRENT

LAST

% Change

Download Starts and Permits

Starts

5/16/2008

1.032M

954Th

+ 8.2%

Permits

5/16/2008

978Th

932Th

+ 4.9%

Total housing starts rose 8.2 percent in April to a seasonally adjusted annual rate of 1.032 million as construction of multifamily units jumped 36 percent following a 35 percent drop in the previous month. However, construction of new single-family units fell 2 percent in April to 692,000 pace, their lowest level in 17 years. Both single and multifamily permits advanced in April.

Read additional information and download data (Excel) for Housing Starts & Permits.

NAHB related press release:

"Builder Confidence Edges Downward In May " (05/15)