Housing Starts Up Slightly From December

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February 25, 2008

Housing Starts Up Slightly From December

Building Permits

Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,048,000. This is 3.0 percent below the revised December rate of 1,080,000 and is 33.1 percent below the revised January 2007 estimate of 1,566,000.

Single-family authorizations in January were at a rate of 673,000; this is 4.1 percent below the December figure of 702,000. Authorizations of units in buildings with five units or more were at a rate of 336,000 in January.

Housing Starts

Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,012,000. This is 0.8 percent above the revised December estimate of 1,004,000, but is 27.9 percent below the revised January 2007 rate of 1,403,000.

Single-family housing starts in January were at a rate of 743,000; this is 5.2 percent below the December figure of 784,000. The January rate for units in buildings with five units or more was 247,000.

Housing Completions

Privately-owned housing completions in January were at a seasonally adjusted annual rate of 1,351,000. This is 1.8 percent above the revised December estimate of 1,327,000, but is 26.2 percent (±9.6%) below the revised January 2007 rate of 1,830,000.

Single-family housing completions in January were at a rate of 1,010,000; this is 1.0 percent below the December figure of 1,020,000. The January rate for units in buildings with five units or more was 303,000.

Full Report Here

Source: U.S. Census Bureau and the Department of Housing and Urban Development

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