US housing starts jump 5.7% in April, rebounding from lowest since August

By Ovunc Kutlu

ISTANBUL (AA) - US housing starts jumped 5.7% in April, rebounding from its lowest since August, according to data released Thursday.

Housing starts, which measure the change in the number of new residential buildings beginning construction, stood at 1.36 million, according to the Census Bureau and the Department of Housing and Urban Development.

The figure was lower than estimates of 1.42 million, while the March figure was revised from 1.321 million to 1.287 million, or from a decline of 14.7% to a decrease of 16.8%.

Housing starts in April, meanwhile, were down 0.6% annually, compared to the same month last year when they stood at 1.368 million.

Building permits, a key indicator of market demand, decreased 3% to 1.44 million in April.

That figure also was lower than expectations of 1.48 million. The March figure was revised from 1.458 million to 1.485 million, or from a decrease of 4.3% to 5%.

Building permits were down 2% in April, from the same month last year when they stood at 1.47 million.