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- The Commerce Department said housing starts tumbled 30.2% to a seasonally adjusted annual rate of 891,000 units last month, the lowest level since early 2015.
- Economists had forecast housing starts would fall to a pace of 927,000 units in April.
- Permits for future home construction plunged 20.8% to a rate of 1.074 million units in April.
- Single-family homebuilding, which accounts for the largest share of the housing market, dropped 25.4% to a rate of 650,000 units in April.
- Single-family building permits declined 24.3% to a rate of 669,000 units in April.
- Multi-family housing segment, starts dived 40.5% to a rate of 241,000 units last month.
- Permits for multi-family units fell 14.2% to a rate of 405,100 units.