In April, the number of homes under construction in the US fell 0.2% from the previous month to 1.724 million at an annualized rate, the country’s Commerce Department said.

In March, according to the revised data, the number of new buildings amounted to 1.728 million, not 1.793 million, as previously reported.

Experts had forecast the figure to drop to 1.765 million from the previously announced March level, according to Trading Economics.

Meanwhile, the number of building permits for new homes issued in the US in April fell 3.2% from the previous month to 1.819 million at an annualized rate, the lowest in 5 months. March’s figure was revised to 1.879 million from 1.873 million, with analysts on average expecting the figure to be 1.812 million.

Some cooling in the U.S. housing market is due to stronger U.S. inflation, mortgage rates climbing to 12-year highs, and the rising cost of building materials.

Construction of single-family homes fell 7.3% to 1.1 million last month, while permits for such housing fell 4.6% to 1.11 million.

The pace of construction of multifamily units (including apartments and condominiums), a more volatile segment of the market, jumped 16.8% to 612,000, while the number of permits fell 0.6% to 656,000.