Housing Starts Up Overall
According to the April 2018 Housing Starts report from the US Census Bureau and HUD, Single Family housing starts fell 3.7% in March, while Multi Family rose 14.4%.
“The overall strength in March housing starts is all the more encouraging given that the colder-than-average weather is likely to have curtailed gains. Fundamentals appear to support a positive outlook for the construction sector, despite labor constraints and rising material costs. Demand should also be supported by a tight labor market and steady pay gains.” – Niraj Shah and Carl Riccadonna, Bloomberg Economics