America is building again – a great reason for credit unions to start promoting construction loans.

In April, total U.S. housing starts rose 6.6% to a seasonally adjusted annual rate of nearly 1.17 million, above the revised March estimate of 1.07 million, according to a joint announcement from the U.S. Census Bureau and the Department of Housing and Urban Development.

Single-family housing starts increased 3.3% to a seasonally adjusted annual rate of 778,000 units, and multifamily starts (usually apartment buildings) rose 13.9% to 394,000 units. This renewed demand gives credit unions the confidence to extend financing to more borrowers – something they have been hesitant to do since the housing and commercial construction meltdown before the Great Recession.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.