NAHB Says Massive Decline in April Multi-Family Starts Hides Gain in Single-Family Housing Starts

摘要

Production of single-family homes edged upward in April as builders responded to improving conditions for new-home buyers, according to the U.S. Commerce Department. While overall starts fell 12.8 percent to a record-low seasonally adjusted annual pace of 458,000 units, the decline was entirely confined to the multi-family sector, where production fell 46 percent to a 90,000-unit pace for the month, while single-family starts posted a 2.8 percent gain to 368,000 units.rn"With some of the best home-buying conditions of a lifetime now in place -including historically low mortgage rates, affordable prices and a first-time home buyer tax credit - single-family builders are starting to see the light on the horizon as more consumers realize they can now obtain the home of their dreams," said NAHB Chairman Joe Robson. NAHB Chief Economist David Crowe said excess inventory and a severe credit crunch for acquisition, development and construction financing and a lack of investor interest in Low Income Housing Tax Credits are keeping apartment builders from moving ahead with new projects.