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CIBC: US housing starts below expectations in April, flat month-over-month and up 15% year-over-year, but permits beat forecast, down 3% month-over-month but up 3% year-over-year; higher mortgage rates expected to cool demand, slow starts in coming months

Total US custom building starts up 28% year-over-year to 46,000 in Q1; custom housing starts totaled 205,000 units over last four quarters, up 13.9% from prior four-quarter period: NAHB

US townhouse construction expanded 16.0% year-over-year in Q1 to 36,000 starts, up 25% to 152,000 units over last four quarters; on a one-year moving average, market share of new townhouses increased to 13.4% of all single-family starts: NAHB

US single-family starts decreased 7.3% to a 1.1 million seasonally adjusted annual rate in April; multifamily production increased 15.3% to a 624,000 pace: NAHB

Privately‚Äźowned US housing starts in April at seasonally adjusted annual rate of 1,724,000, down 0.2% from revised March level, up 14.6% annually; building permits up 3.1% annually to 1,819,000, completions down 8.6% to 1,295,000: Dept. of Commerce

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