April Housing Starts Rise 2.6%

NEW YORK (TheStreet) -- Housing starts in April rose 2.6% to a seasonally adjusted annual rate of 717,000, the Commerce Department said Wednesday.

Housing starts for March were revised higher to a pace of 699,000 units from a previously reported 654,000-unit rate.

Building permits, however, fell 7% to a pace of 715,00 units. Permits for March were revised to a rate of 769,000 units.

Economists expected housing starts for April to come in at 680,000 units. Building permits were expected to fall to a pace of 730,000 units in April.