Completions of new homes fell 0.8% in...

Completions of new homes fell 0.8% in April to a seasonally adjusted annual rate of 1.588 million units, down from March’s 1.601 million units, the Commerce Department said. The April decrease followed a revised 10.3% increase in March completions from 1.452 million units in February and left completions 11.1% below the April, 1987, level of 1.786 million units. Completions of single-family homes fell 6.3% in April to 1.029 million units from 1.098 million units in March and completions of multifamily units rose 11.1% to 559,000 units from 503,000 units. Before seasonal adjustment, the actual number of new homes completed in April was estimated at 122,700 units.