Housing Starts Stronger than Expected in April

The pace of home construction jumped to its highest level since last November. The news comes as a surprise to analysts. Bloomberg.com reports that housing starts climbed 13.2 percent to a 1.07 million annualized rate following March’s 947,000 pace, the Commerce Department said. The increase in housing starts was dominated by multifamily construction, such as condominiums and apartment buildings, according to Bloomberg.com.

 

http://www.bloomberg.com/news/2014-05-16/builders-worked-on-more-u-s-homes-than-forecast-in-april.html?utm_content=buffera86af&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer