Homebuilding Stabilizing in April

Single-family homebuilding stabilized in April 2026, with activity remaining flat over the past year despite a 9% monthly drop in starts following a strong March.

Key Takeaways

• 1.Single-family housing starts have stabilized and remained generally flat over the last year, despite a 9% monthly decline in April.
• 2.New-home inventories are historically high at 8.5 months of sales, more than double the historical norm of 4 months.
• 3.Despite high inventory levels, homebuilders continue to start new projects, which is supporting construction jobs and preventing a drag on GDP.

Table of Contents

• ECONOMY

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