Market Updates
Housing Starts and Permits Declined, Completions Rose In January
Brian Turner
16 Feb, 2023
New York City
Seasonally adjusted housing starts fell 4.5% from a month earlier to an annualized rate of 1.309 million, the lowest since June 2020.
Housing starts fell 21.4% from a year ago level of 1.66 million, the monthly report from the U.S. Census Bureau said Thursday in the residential construction monthly report.
Single-family housing starts declined 4.3% to an annual rate of 841,000 from the revised December rate of 879,000.
Building permits in January were at a seasonally adjusted annual rate of 1,339,000, 0.1% above the revised December rate of 1.33 million, but 27.3% below the January 2022 rate of 1.8 million.
Housing completions in January were at a seasonally adjusted annual rate of 1.4 million. 1.0% above the revised December estimate of 1.39 million and 12.8% up from a year ago.
Single-family home completions increased 4.4% from December at a rate of 1.04 million.
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