Today’s New Residential Construction Report showed gains in April with single family permits increasing from March while starts also increased over the same period. Single family housing permits, the most leading of indicators, increased a notable 1.9% from March to 475K single family units (SAAR), and increased 18.5% above the level seen in April 2011 but still remained an astonishing 73.58% below the peak in September 2005.
Single family housing starts increased 2.3% from March to 492K units (SAAR), and climbed 18.8% above the level seen in April 2011 and remained a stunning 73.01% below the peak set in early 2006.
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