Starts of new U.S. homes fell more than forecast in April to a five-month low, indicating a pause in the industry’s progress as builders slowed work on apartments. Building permits surged to an almost five-year high.
Housing starts in the U.S. probably fell in April from an almost five-year high, indicating a pause in the industry’s progress as builders slowed work on apartment buildings, economists said before a report today.
A cowboy-hat-wearing robot with “Sell” emblazoned across its chest adorns a wall-length mural in the lounge of RGM Advisors LLC in Austin, Texas. Another robot, with “Buy” on it, wobbles toward a green Wall Street sign as two machines tote spark-emitting high-speed cables.
Hovnanian Enterprises Inc., the best-performing U.S. homebuilder stock in the past 12 months, reported a narrower loss for its fiscal first quarter as sales and orders increased amid a housing rebound.