US home construction drops 30.2% in April as virus rages

Coronavirus Watch

A construction crew loads dirt on a building site, Monday, May 18, 2020 in East Greenwich, N.J. (AP Photo/Matt Slocum)

WASHINGTON (AP) — U.S. home building plunged again in April, taken down by the economic fallout from the coronavirus pandemic.

The Commerce Department said Tuesday that ground breakings plummeted 30.2% last month to a seasonally adjusted annual rate of 891,000.

Construction of single-family homes dropped 25.4% to an annual rate of 650,000.

The lockdowns and travel restrictions designed to contain the pandemic have brought economic life to a near standstill.

The unemployment rate is 14.7%, highest since the Great Depression.

The construction slump is likely to continue.

Building permits for new housing dropped 20.8% to an annual rate of 1.07 million.

For the latest breaking news and stories from across the tri-state, follow Eyewitness News on Facebook and Twitter.

(This story was originally published on May 19, 2020)

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories