(Census Bureau) The total authorized private-owned housing units stood at an annual rate of 1.819 million in April, a decline of 3.2% from March. The permits are still 3.1% higher than last year.
The fall in house authorization happens amid supply chain challenges and costly mortgages, which were reported to have climbed to 5.3% last week.
The housing starts also saw declines in April, with the levels hitting an annual rate of 1.724 million, down by 0.2% from the prior year. The starts remained 14.2% higher than the prior year.
House completions hit an annual rate of 1.295 million in April, 5.1% below March. The completions are now 8.6% below the comparable month of last year.
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