Although these types of news items are generally covered in the MetroIntelligence Economic Update portion of BuilderBytes, due to some technical errors these stories were not included in today's version. Look for them in next Tuesday's edition. Not a subscriber to the free BuilderBytes e-newsletter? Click here to subscribe!
Builder confidence rose one point to 47 in April
Builder confidence in the market for newly built, single-family homes rose one point to 47 in April from a downwardly revised March reading of 46. Headwinds include ongoing tight credit conditions for home buyers and the fact that builders in many markets are facing a limited availability of lots and labor.
March housing starts up by 2.8 percent from February but down 5.9 percent over past year
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 946,000. This is 2.8 percent above the revised February estimate of 920,000, but is 5.9 percent below the March 2013 rate of 1,005,000.
March building permits down by 2.4 percent from February but up 11.2 percent over last year
Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 990,000. This is 2.4 percent below the revised February rate of 1,014,000, but is 11.2 percent above the March 2013 estimate of 890,000.
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