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US housing market: Housing starts rise, home sales fall MOM in April

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US housing market: Housing starts rise, home sales fall MOM in April

Privately owned single-unit housing starts rose 6.2% on a monthly basis in April, reaching a seasonally adjusted annual rate of 854,000, but were down 4.3% year over year, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. On the other hand, new single-family home sales fell 6.9% month over month on a seasonally adjusted basis, but were up 7% compared to April 2018 levels.

Existing home sales dipped 0.4% on a monthly basis in April to a seasonally adjusted annual rate of 5.19 million, according to the National Association of Realtors. The rate represented a 4.4% drop on a yearly basis.

While the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index continued its ascent in March, the pace of home price growth continued to slow, up 3.7% on a yearly basis and 0.3% month over month after seasonal adjustment.

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For further analysis on homebuilder performance in the U.S., try S&P Global Market Intelligence's Homebuilder Peer Analysis Template. Other templates are also available in the Excel Template Library.