US home building unexpectedly rose in April, climbing 2% from March.
Housing starts, a measure of new home construction, were down 22.3% from a year ago, according to data released Wednesday by the Census Bureau.
After surging in February following five consecutive months of falling, housing starts fell in March. The April turnaround saw units rise to a seasonally adjusted annual rate of 1.40 million, up from the revised March estimate of 1.37 million.
This is a developing story and will be updated.