US building permits 1352K vs 1350K expected
The US housing data for the month of April has been released:
- The housing starts for April came in weaker than expected at 1287K vs 1310K est.
- The building permits for April came in about expectations at 1352K vs 1350K est.
- The housing starts fell -3.7% vs -0.7%.
- The prior month housing starts were revised to 1336K vs 1319K previously
- The building permits fell -1.8% vs -2.1% expected.
- The prior month buidling permits were revised to 1377K from 1379K previously
The housing market continues to tread water as shortages of land and skilled labor hurt the industry.
Single-family home building edged up 0.1% to 894K. The recent high watermark was at 948k unit pace in November. That was the strongest in 10 years.
The high price of lumber is having an impact on the market as well. Trump last April imposed anti-subsidy duties on imports of Canadian softwood lumber, that is making it more difficult to build competitively priced houses for new buyers.
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