Global Wood & Furniture Marketplace Online

U.S. :Housing Starts Taper Off In April .
¡¾2002.05.20¡¿

Housing Starts Taper Off In April .

The U. S. Census Bureau reports housing starts for April 2002 were at a seasonally adjusted annual rate of 1,555,000 units, a decrease of 89,000 units (-5.4%) from 1,644,000 units for March 2002, and down 81,000 units (-5.0%) from 1,636,000 units for April 2001.

April 2002 single family starts are at 1,270,000 units, down 26,000 units (-2.0%) from 1,296,000 units for March 2002, and down 32,000 units (-2.5%) from 1,302,000 units for April 2001. Single family housing starts represent 81.7% of the seasonally adjusted rate of total starts reported for April 2002.

Building permits, often a barometer for future activity, are at a seasonally adjusted rate of 1,634,000 units for April 2002, virtually unchanged from 1,629,000 units for March 2002.

There is speculation the housing market is showing some slowing from the fast pace seen earlier in the year, when favorable weather and mortgage rates boosted starts to record levels in seasonally adjusted terms.

However, a number of market analysts suggest the weaker report could simply be ¡°statistical¡± or a payback from earlier gains, but overall, the housing market is maintaining both resilience and strength.

The U.S. Census Bureau survey of privately owned housing starts includes a six-percent plus and minus margin of error.