Print
EmailHousing starts up 14% in January to 596,000 units
The U.S. home building industry beat market forecasts in January, as housing starts rose 14.6 percent to a seasonally adjusted annual rate of 596,000 units — the highest level since September 2010, according to a U.S. Commerce Department report.
Forecasts for January ranged from 520,000 units (MarketWatch survey) to 539,000 units (Bloomberg News survey), showing that builders had a significantly better month than economists had expected.
Single-family housing starts in January were at a rate of 413,000, 1 percent below the revised December figure of 417,000. The January rate for units in buildings with five units or more was 171,000.
The news was not all positive, however. Building permits fell 10.4 percent to a seasonally adjusted annual rate of 562,000, following a 15 percent jump in December. Single-family authorizations in January were at a rate of 421,000, 4.8 percent below December.
For more, download the PDF report from the Commerce Dept.
More like this
Comments on: "Housing starts up 14% in January to 596,000 units"
RELATED ARTICLES
Flawed, unnecessary, and costly regulations burden small home builders by raising expenses and slowing the home building process. These hurdles ultimately rob builders of...
Towns experiment with different approaches to stimulate new-home building during the recovery; Home builder bonds still draw speculative grades; Ontario’s...
Search Our Buyer's Guide
Reference Library
Professional Remodeler’s annual Market Leaders list, which identifies the top...
With demand for custom design, remodeling, and renovations at its highest level since 2005, ...
Normandy Remodeling converts confined kitchen into sprawling galley.
Each year, the National Kitchen and Bath Association surveys its members to identify the latest...
Each year, the National Kitchen and Bath Association surveys its members to identify the latest...
