As expected, a reversal of the surge in multifamily starts seen in March contributed to a 3.7% m/m drop in total housing starts in April. More of a concern is the lack of a sustained recovery in single-family construction. Despite very tight market conditions contributing to a rise in homebuilder confidence, starts in that sector have simply held their ground since the start of the year.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services