US: Building permits in April were at 1,229,000, 2.5% below the revised March rate of 1,260,000

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for April 2017:

• Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,229,000. This is 2.5 percent (±1.1 percent) below the revised March rate of 1,260,000, but is 5.7 percent (±1.4 percent) above the April 2016 rate of 1,163,000
• Privately-owned housing starts in April were at a seasonally adjusted annual rate of 1,172,000. This is 2.6 percent (±8.8 percent) below the revised March estimate of 1,203,000, but is 0.7 percent (±7.0 percent) above the April 2016 rate of 1,164,000
• Privately-owned housing completions in April were at a seasonally adjusted annual rate of 1,106,000. This is 8.6 percent (±10.8 percent)* below the revised March estimate of 1,210,000, but is 15.1 percent (±12.2 percent) above the April 2016 rate of 961,000