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New U.S. home construction in April saw largest decline of COVID-19 era

The government report also said U.S. housing completions in April were down 4.4%. File Photo by Alexis C. Glenn/UPI
The government report also said U.S. housing completions in April were down 4.4%. File Photo by Alexis C. Glenn/UPI | License Photo

May 18 (UPI) -- New single-family home construction saw its greatest decline of the COVID-19 era last month, according to data published Tuesday.

The Commerce Department said overall private home starts fell sharply in April and were down almost 10% from March.

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Construction of single-family homes declined 13%, the largest decline since April 2020 when the U.S. economy shut down in response to the coronavirus' arrival.

However, the department figures show April's total, while down, was still 67% higher year to year.

The government report also said housing completions in April were down 4.4% from March, but 22% higher over the past 12 months.

A couple factors in the slowdown, experts say, are increasing costs of commodities and a shortage of skilled labor.

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