New residential construction made gains in April

Major gains were recorded in April’s new construction data, which was released by the U.S. Census Bureau and the Department of Housing and Urban Development.

Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,143,000, 10.1 percent above the revised March rate of 1,038,000 and 6.4 percent above the April 2014 estimate of 1,074,000, according to the government agencies.

Privately-owned housing starts in April were at a seasonally adjusted annual rate of 1,135,000, 20.2 percent above the revised March estimate of 944,000 and is 9.2 percent above the April 2014 rate of 1,039,000.

Privately-owned housing completions in April were at a seasonally adjusted annual rate of 986,000, 20.4 percent above the revised March estimate of 819,000 and 19.4 percent above the April 2014 rate of 826,000.