{"id":63096,"date":"2026-05-22T03:00:18","date_gmt":"2026-05-22T01:00:18","guid":{"rendered":"https:\/\/housesmarketplace.com\/single-family-housing-starts-fell-in-april-but-multifamily-gained-momentum\/"},"modified":"2026-05-22T03:00:18","modified_gmt":"2026-05-22T01:00:18","slug":"single-family-housing-starts-fell-in-april-but-multifamily-gained-momentum","status":"publish","type":"post","link":"https:\/\/housesmarketplace.com\/ru\/single-family-housing-starts-fell-in-april-but-multifamily-gained-momentum\/","title":{"rendered":"Single-family housing starts fell in April, but multifamily gained momentum"},"content":{"rendered":"
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Housing starts increased in April compared with a year ago, but a deeper dive into the data reveals that this uptick was driven by a noisier boost in multifamily development activity, while single-family starts declined.\u00a0<\/p>\n

\u0421\u043e\u0433\u043b\u0430\u0441\u043d\u043e \u0411\u044e\u0440\u043e \u043f\u0435\u0440\u0435\u043f\u0438\u0441\u0438 \u043d\u0430\u0441\u0435\u043b\u0435\u043d\u0438\u044f \u0421\u0428\u0410<\/strong>\u2019s new residential construction \u0434\u0430\u043d\u043d\u044b\u0435<\/a> released on Thursday, housing starts, on a seasonally adjusted basis, ticked up 4.6% year-over-year but fell 2.8% from \u041c\u0430\u0440\u0448\u0438\u0440\u043e\u0432\u0430\u0442\u044c<\/a>.\u00a0<\/p>\n

Single-family starts were down 2.4% year over year, but strength in the multifamily sector, which saw starts increase by 23.3%, kept new residential construction positive. At a seasonally adjusted annual rate, housing starts were 1,456,000 units, 930,000 of which were single-family homes.\u00a0<\/p>\n

\u201cHousing starts pulled back in April following March\u2019s rebound, but the overall report still outpaced consensus expectations and does not suggest a sharp deterioration in construction activity,\u201d \u041f\u0435\u0440\u0432\u044b\u0439 \u0430\u043c\u0435\u0440\u0438\u043a\u0430\u043d\u0435\u0446<\/strong> Deputy Chief Economist Odeta Kushi said in a provided statement.<\/p>\n

The fall-off in single-family starts and permits, both sequential and year-over-year, is not viewed entirely as a negative, especially in light of homebuilders having to crush their margins to buy sales and work through oversupplies in some of the nation\u2019s most-active new-home markets.<\/p>\n

\u201cWe continue viewing reduced SF Starts a positive as excess channel supply still needs to be absorbed, particularly at entry-level price points,\u201d writes Trevor Allinson, \u0418\u0441\u0441\u043b\u0435\u0434\u043e\u0432\u0430\u043d\u0438\u0435 \u0412\u043e\u043b\u044c\u0444\u0430<\/strong> homebuilding and building products research analyst in an investors note following today\u2019s Census release. This way, \u201cpricing can stabilize to begin ticking upward and improving consumer confidence.\u201d<\/p>\n

A closer look at regional trends provides additional insight.<\/p>\n

\u0420\u0435\u0433\u0438\u043e\u043d\u0430\u043b\u044c\u043d\u044b\u0435 \u0442\u0435\u043d\u0434\u0435\u043d\u0446\u0438\u0438<\/h2>\n

Total housing starts were negative in each region, other than the West, which ticked up 49%. The Midwest (-9.6%), the South (-3.2%) and the Northeast (-3.2%) all experienced declining new residential activity.\u00a0<\/p>\n

Single-family housing starts, on a seasonally adjusted annual rate, fell most prominently in the Northeast (-33.3%) and the Midwest (-12.1%). On the other hand, single-family starts were positive in the West (8.3%) and in the South (1.7%).<\/p>\n

However, this momentary increase in single-family starts in the West and the South won\u2019t necessarily translate into positive momentum for the remainder of the year. The number of single-family permits authorized in April was negative in every region, including the South (-1.9%) and the Midwest (-3.2%), indicating that starts for the foreseeable future could be negative.\u00a0<\/p>\n

Kushi argued that the latest Census data \u201ccontinues to reflect a homebuilding market defined more by caution than confidence\u201d, adding that \u201csingle-family construction activity could remain subdued in the months ahead.\u201d<\/p>\n

The Northeast and Midwest have generally seen much stronger growth in housing starts over the past 18 months, largely because those regions avoided an earlier wave of aggressive homebuilding and still face limited housing supply. On the other hand, many booming Sun Belt markets had to work through excess inventory created by a surge in speculative development in the years following the COVID pandemic.<\/p>\n

The South and West were challenging regions for single-family starts last year<\/a>, with yearly declines of 8.4% and 10.7% in 2025, respectively, both higher than the national decline of 7.3%. Meanwhile, housing starts in the Northeast and Midwest were relatively unchanged. <\/p>\n

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