The seasonally adjusted rate of new building permits rose to 1.08 million, which is 8% above the downwardly revised March rate of 1 million but 3.8% higher than the April 2013 rate of 1.04 million. The consensus estimate called for 1.02 million new permits.
Single-family housing starts rose to an annualized rate of 649,000 in April, up 0.7% from the revised March rate of 644,000.
Permits for new single-family homes rose 0.3% in April to an adjusted annual rate of 602,000 from an upwardly revised total of 600,000 in March.
Multifamily starts for buildings with five or more units, a more volatile number than single-family starts, rose 42.9% in April.
The rate of increase in new permits is the highest since June of 2008.
ALSO READ: The 10 Most Affordable Middle-Class Home Markets
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
