US Housing Starts Rise in Sign Home Construction Is Stabilizing
- Beginning construction rose 2.2% in April to 1.4 million rate
- Gain in one-family homebuilding due to surge in West region
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US housing starts increased in April, adding to evidence that residential real estate is gradually recovering after a yearlong slump.
Beginning home construction rose 2.2% to a 1.4 million annualized rate, according to government data released Wednesday. Single-family homebuilding increased 1.6% to the highest level this year, entirely due to a jump in the West. Starts of apartment buildings and other multifamily projects also rose.