The National Association of Home Builders (NAHB) reports while housing starts fell 16.5 percent to a seasonably-adjusted annual rate (SAAR) of 853,000 in April, housing permit issuance rose 14.3 percent to a SAAR of 1.02 million units, the highest rate since June of 2008. Based on data from HUD and the Census Bureau, single-family starts declined 2.1 percent while multi-family fell 38.9 percent. Regionally, combined starts fell 12.8 percent in the Northeast, 27.9 percent in the South, and 6.2 percent in the West. Only the Midwest saw a plus, of 10.9 percent. The increase in permit issuance represents a 3.0 percent rise on the single-family side and a 37.5 percent gain on the multi-family side. Regionally, total permit issuance grew 22.3 percent in the Midwest, 16.0 percent in the South, and 12.9 percent in the West. MHProNews has learned the Northeast fell 2.0 percent in permit issuance.
