Housing Starts rebound in January
After a dramatic double-digit percentage decline in residential construction in December, the pace of housing starts in January jumped back up 18.6%.
The latest reading from the Commerce Department put the seasonally adjusted annual rate of total housing starts at 1,230,000. While that's a big increase over the downwardly revised December figure, it's also a 7.8% decline over the prior year figure.
Single-family housing starts in January were at a pace of 926,000 -- 25.1% above the revised December figure of 740,000. Single-family starts were also up 4.5% for the year.
According to the report, issued Friday morning, building permits in January were at a seasonally adjusted annual rate of 1,345,000. This is 1.4% above the revised December rate of 1,326,000, but is 1.5% below the January 2018 rate of 1,366,000.
Click here for the full report from the Commerce Dept.
The latest reading from the Commerce Department put the seasonally adjusted annual rate of total housing starts at 1,230,000. While that's a big increase over the downwardly revised December figure, it's also a 7.8% decline over the prior year figure.
Single-family housing starts in January were at a pace of 926,000 -- 25.1% above the revised December figure of 740,000. Single-family starts were also up 4.5% for the year.
According to the report, issued Friday morning, building permits in January were at a seasonally adjusted annual rate of 1,345,000. This is 1.4% above the revised December rate of 1,326,000, but is 1.5% below the January 2018 rate of 1,366,000.
Click here for the full report from the Commerce Dept.