building permits: Building Permits Fade Faster Than Expected - 05/18/11 05:32 AM
Single-family housing starts dropped by 21,000 units in April on a seasonally-adjusted annual basis.
The Housing Starts report measures the number of homes on which new construction "broke ground". It's tracked by the U.S. Department of Commerce which releases new data monthly.
Single-family housing starts fell 5 percent as compared to March 2011, and 30 percent as compared to April one year ago. 
The figures were worse than what Wall Street expected. For just the second time in 2 years, monthly single-family housing starts dropped below 400,000 units. In addition, single-family Building Permits fell in April as well, shedding 2 percent from March.

Jamie Russen, 100% Financing Specialist (Jamie Russen - Greentree Mortgage)

Jamie Russen

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