U.S. Census Bureau: Monthly New Residential Construction, April, 2024

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for April 2024:

Building Permits

Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,440,000. This is 3.0 percent below the revised March rate of 1,485,000 and is 2.0 percent below the April 2023 rate of 1,470,000. Single-family authorizations in April were at a rate of 976,000; this is 0.8 percent below the revised March figure of 984,000. Authorizations of units in buildings with five units or more were at a rate of 408,000 in April.

Housing Starts

Privately-owned housing starts in April were at a seasonally adjusted annual rate of 1,360,000. This is 5.7 percent (±11.0 percent)* above the revised March estimate of 1,287,000, but is 0.6 percent (±12.3 percent)* below the April 2023 rate of 1,368,000. Single-family housing starts in April were at a rate of 1,031,000; this is 0.4 percent (±9.5 percent)* below the revised March figure of 1,035,000. The April rate for units in buildings with five units or more was 322,000.

Housing Completions

Privately-owned housing completions in April were at a seasonally adjusted annual rate of 1,623,000.  This is 8.6 percent (±10.3 percent)* above the revised March estimate of 1,495,000 and is 14.6 percent (±13.1 percent) above the April 2023 rate of 1,416,000.  Single-family housing completions in April were at a rate of 1,092,000; this is 15.4 percent (±14.9 percent) above the revised March rate of 946,000. The April rate for units in buildings with five units or more was 516,000.

For the full press release click here.

The May report is scheduled for release on June 20, 2024. View the full schedule in the Economic Briefing Room: <www.census.gov/economic-indicators/>.  The full text and tables for this release can be found at <www.census.gov/construction/nrc/> .

Source: U.S. Census Bureau