Housing Starts & Permits Drop Dramatically Due to Pandemic

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The U.S. government is reporting that privately‐owned housing starts in April were at a seasonally adjusted annual rate of 891k, which is 30.2% below March’s revised number.  April’s rate for units in buildings with five units or more was 234k.  Privately‐owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,074,000, which was 20.8% below March’s revised number.  Authorizations of units in buildings with five units or more were at a rate of 373k in April.

“Due to recent events surrounding COVID‐19, many governments and businesses are operating on a limited capacity or have ceased operations completely. The Census Bureau has monitored response and data quality and determined estimates in this release meet publication standards.”

Click here to read the full report at the U.S. Census Bureau.

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Director of Education & Outreach, National Real Estate Investors Association

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