WASHINGTON (AP) — U.S. home construction fell a surprisingly sharp 9.5% in April. Analysts attribute part of the decline to builders holding back on starting new construction because of a surge in lumber prices and other supply constraints. The Commerce Department said Tuesday that the April decline left construction at a seasonally adjusted annual rate of 1.57 million unitsy. That was down from a rate of 1.73 million units in March. Applications for building permits rose 0.3% in April to an annual rate of 1.76 million units, suggesting that the April construction dip will be temporary.
