US Housing Starts Hiccup! 5+ Unit (Multifamily) Starts Down -33% YoY In April While 1-Unit Starts Slow From 26% To 17.1%

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Middle of the road? Not for multifamily housing with starts down -33% year-over-year (YoY) in April!

Housing starts increased 5.7% in April to an annual rate of 1.36 million, down 0.6% from April 2023.

Single-family home starts fell 0.4% from March to an annual rate of 1.03 million, but were up 17.7 % compared to April 2023.

Housing permits dipped 3%.

But the bigger picture is … 5+ unit (multifamily) starts are down -33% in April. And while 1-unit (single-family detached) starts were up 17.7% YoY in April DOWN from 26% YoY in March.

Face it, our cities are gone.

Published by confoundedinterest17

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