Today's New Residential Construction Report showed mixed results in April, with a notable declines to housing starts. Housing permits improved notably on the month, with total housing permits increasing by a notable 14.3%. Single-family housing permits, the most leading of indicators, increased 3.0% from March to 617,000 single-family units (SAAR), and increased 27.5% above the level seen in April 2012. But it still remained well below levels seen at the peak in September 2005.
Single-family housing starts declined 2.1% from March to 610,000 units (SAAR), but rose 20.8% above the level seen in April 2012. It still remained well below the peak set in early 2006.