Sigmanomics — The Market Forecast Engine

US Housing Starts Drop to 1.465 Million, Exceed Consensus Estimate

The United States reported housing starts of 1.465 million units in April 2026, surpassing the consensus estimate of 1.41 million. This figure marks a decrease from March's revised reading of 1.507 million, reflecting a month-over-month decline of 0.042 million units. April's result continues a recent trend of volatility in residential construction, with levels remaining above the 1.4 million mark for the third consecutive month. The decline was primarily driven by a slowdown in single-family home construction, which offset gains in the multifamily segment. Compared to the 12-month rolling average of 1.399 million, April's starts remain slightly elevated, highlighting ongoing resilience in the US housing sector despite higher interest rates. Market participants are watching for upcoming building permits data and Federal Reserve communications for further signals on housing and monetary policy. Updated 5/21/26