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collection-collapse Although single-family home building remained strong in April, it was quite the opposite for condominium and apartment construction. And because of the latter, the numbers weren't so great overall. According to data by the Census Bureau, housing construction fell 17% in last month, to an annual pace of  853,000 homes. The reason? Well, like just states, the decline was due to the 38% drop in starts of apartment buildings with five or more units. If you think that apartment construction shouldn't have a large role in data, then you are sorely mistaken. Each apartment unit under construction is counted for separately,  therefore affecting the overall numbers tremendously. Although single-family home builds are optimistic, the overall pace of construction is still well below historic levels. 

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Jim DeRentis
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  • Providence Office 140 Wickenden Street Providence RI 02903
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