US home construction falls
a surprise 9.5% in April
Posted By: NorthernDog, 5/19/2021 8:29:57 AM
WASHINGTON -- U.S. home construction fell a surprisingly sharp 9.5% in April and economists attributed that partially to builders who delayed projects because of a surge in lumber prices and other supply constraints. The April decline left construction at a seasonally adjusted annual rate of 1.57 million units, the Commerce Department said Tuesday. That was down from a rate of 1.73 million units in March, which had been the best showing since homes were constructed at a rate of 1.74 million units in July 2006 at the peak of that decade's housing boom. Applications for building permits, considered a sign of
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Comments:
Soaring costs are like a huge wet blanket on the home industry.