The U.S. Census Bureau and U.S. Department of Housing and Urban Development announced that privately-owned housing starts in April were at an adjusted annual rate of 1,724,000, a 0.2% decrease from March 2022, but a 14.6% increase from the prior-year period.
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In addition, single-family housing starts were at 1,100,000 – a 3.7% increase from last April but down 7.3% from March 2022.
Building permit numbers were at 1,819,000 in April, and housing completions were 1,295,000. Building permit figures fell below March levels in April but remained slightly higher than April 2021 figures. Housing completions decreased in April below March 2022 and April 2021 levels.
Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at iheller@distributionstrategy.com.