Starts Tumbled Back Below Permits
– April’s 16.5 percent plunge in housing starts is less alarming when paired with the 14.3 percent rise in permits reported that month. Inclement weather likely delayed some starts, which
should produce a nice rebound in May.
– After spiking in March, multifamily starts plunged 38.9 percent in April and were responsible for most of the swing in overall starts. Multifamily permits rose nearly 40 percent in April.
Click here to read the full report: Economic Research
Wells Fargo