U.S. Home and Apartment Construction Starts Spike in April

According to a new report from the U.S. Housing and Urban Development and Commerce Department, total U.S. housing starts rose 5.7 percent in April 2019 to a seasonally adjusted annual rate of 1.24 million units from an upwardly revised reading in March 2019.
The April reading of 1.24 million is the number of housing units builders would begin if they kept this pace for the next 12 months. Within this overall number, single-family starts increased 6.2 percent to 854,000 units. The multifamily sector, which includes apartment buildings and condos, increased 4.7 percent to a 381,000 pace.