New home construction in April increased 2.2 percent from the revised March estimate to an annual rate of 1.40 million units.
The bump was driven by a rise in multi-family construction.
The housing sector has been in a major slump for months, and new construction in April was down 22.3 percent year on year.
Housing completions in April were at a seasonally adjusted annual rate of 1,375,000, which was 10.4 percent below the revised March estimate, but was 1.0 percent above the April 2022 rate of 1,361,000.
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