-
Buyers are also shifting toward more pre-orders rather than completed homes.
-
Sales improved across all four regions during the month.
-
Single-family permits were also up, while multifamily permits retreated from March’s surge.
-
Private spending on single-family homes outperformed the overall numbers.
-
While housing vacancies declined in the first quarter, the homeownership rate was at the lowest level seen in 15 years, according to Census Bureau data.
-
Tight credit conditions may still threaten the improvement.
-
In April, fewer Americans planned to make a big purchase during the next six months.
-
While inventory also declined, vacancy rates suggest it may take longer than expected to burn through.
-
Starts, on the other hand, declined for the second consecutive month.
-
While single-family spending was down, multifamily continues to show promise.