Housing Starts Edge Up, While Permits Drop
WASHINGTON, DC — Housing starts bumped up slightly in April, while new building permits dropped to the slowest pace since June 1997, according to figures released by the U.S. Commerce Department. Starts of new single-family homes were up 1.6% in April, but the pace was 18.9% below April 2006. Multi-family housing construction increased 6.3%, a 2.6% decrease from a year ago.