U.S. Housing Starts Pull Back Much Less Than Expected In April

U.S. new residential construction pulled back in April, but by much less than expected, according to Commerce Department data. The report is a modestly better-than-forecast read on housing activity and is most relevant as a macro housing indicator rather than a market-moving event.

Analysis

U.S. new residential construction pulled back in April, but by much less than expected, according to Commerce Department data. The report is a modestly better-than-forecast read on housing activity and is most relevant as a macro housing indicator rather than a market-moving event.