Multifamily Cooldown A Drag On Housing Starts In April

Housing starts dropped 2.6% in April to a seasonally adjusted annual rate of 1.172 million from March’s downward-revisedĀ 1.203 million, the Commerce Department reported Tuesday. April’s figure is 0.7% ahead year-over-year. Building permit authorizations, an indicator of future construction activity, cooled in April, falling 2.5% from March’s rate of 1.260 million to 1.229 million for the […]