Home Building Surges
The home builders started a bunch more homes in April. "Construction of new U.S. houses rose 11% in April to a seasonally adjusted 2.04 million annualized units. This follows a 17.6% drop in starts in March to 1.84 million units, which economists attributed to cold and wet weather."
The Census Bureau report reveals much more in the pipeline. In Table 2, under 'New Privately-Owned Housing Units Authorized, but Not Started, at End of Period', there are 40,000 more units under this catagory in April 2005, compared to the 183,000 in April 2004. That is up 22%.