Total housing production rose 13.2 percent for the month to a seasonally adjusted annual rate of 1.07 million units, but single-family production remained flat, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
“The flat single-family data confirm our latest surveys, which show that single-family builders remain concerned that tight credit availability and uncertain economic conditions are keeping potential buyers on the sidelines,” says Kevin Kelly, chairman of the National Association of Home Builders.
Single-family housing starts rose 0.8 percent to a seasonally adjusted annual rate of 649,000 units in April. Issuance of building permits, which can be an indicator of future building activity, rose 8 percent to a seasonally adjusted annual rate of 1.08 million units in April. Single-family permits registered a marginal 0.3 percent gain to 602,000 units.