Housing Starts Rise More Than Expected

Architect and couple looking at blueprints outside house under construction

Homebuilding in the U.S. is running stronger than industry analysts expected. Figures out today from the Commerce Department show housing starts in April were up five-point-seven percent. That's an annual rate of one-point-235 million units. Gains in construction of single-family homes and apartment buildings drove the increase last month. A survey of homebuilders Wednesday showed confidence is at a seven-month high this month.

Photo: Getty Images

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