Housing starts surged in April with strong gains in single family homes as well as two to four unit and five or more unit buildings. Construction of single family homes has been lagging in recent years. If the gains are confirmed by next month’s numbers, maybe housing will finally have a late spring season. Sales of existing homes are back to almost normal levels of about five million sales annually. Sales of new homes continue to lag.
Prices of existing homes have been rising at about a 4%-5% annual rate in recent months. Whether will pace can be sustained could be revealed in the next S&P/Case-Shiller Home Price Index release on Tuesday, May 26th at 9 AM.
The charts show recent developments in housing. Click on a chart for a larger image.