Single-family housing starts in April were at a rate of 930,000, according to data from the US Census Bureau and Department of Housing and Urban Development. This represents a 9% drop from the revised March figure of 1.02 million.
Privately-owned housing starts in April were at a seasonally adjusted annual rate of 1.46 million. This is 2.8% below the revised March estimate of 1.50 million but is 4.6% above the April 2025 rate of 1.40 million.
Single-family authorizations in April were at a rate of 872,000, which is 2.6% below the revised March figure of 895,000. Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1.442 million, which is 5.8% above the revised March rate of 1.36 million but is also a slight 0.2% dip from the April 2025 rate of 1.445 million.
Single-family housing completions in April were at a rate of 903,000, a 1% drop from the revised March rate of 912,000. Privately-owned housing completions in April were at a seasonally adjusted annual rate of 1.44 million. This is 4.8% above the revised March estimate of 1.38 million and 2% below the April 2025 rate of 1.47 million.
“The decline in housing starts highlights growing pressure from tighter financial conditions and rising construction costs,” said Danushka Nanayakkara-Skillington, assistant vice president for forecasting and analysis at the National Association of Home Builders. “Recent increases in the 10-year Treasury yield have driven mortgage rates higher, further reducing affordability and weakening demand for new homes. As a result, home building is likely to remain under pressure in the coming months, especially as higher diesel and gas prices continue to raise construction costs.”
First American Deputy Chief Economist Odeta Kushi observed, “The broader takeaway from the April report is that residential construction remains active enough to avoid signaling outright weakness, but cautious enough to reflect ongoing affordability pressures and weak builder confidence. Builders are still building, but they are doing so carefully, selectively, and without much conviction.”
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