Builder
Permits fall as well, shattering economist expectations for gains in both.
Housing starts and permits slipped in April, the Commerce Department reported Tuesday, falling well below the expectations of economists.
Privately owned housing starts in April were at a seasonally adjusted annual rate of 1,172,000, 2.6% below the revised March estimate of 1,203,000 but still 0.7% above the April 2016 rate of 1,164,000. Economists were expecting an increase of 3.7% to 1.26 million. Single-family housing starts in April were at a rate of 835,000; this is 0.4% ahead of the revised March figure of 832,000. The April rate for units in buildings with five units or more was 328,000, a drop of 9.6% from March.
