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In The News:

Housing Starts in January 14.6% Above December Rate

Housing starts were at a seasonally adjusted annual rate of 596,000 in January 2011, 14.6 percent above December and 2.6 below the January 2010 rate, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

Single-family housing starts were at a rate of 413,000, 1 percent below December. And the rate for units in buildings with five units or more was 171,000.

Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 562,000. This is 10.4 percent below December and 10.7 percent below January 2010.

Single-family authorizations in January were at a rate of 421,000; this is 4.8 percent below December. Authorizations of units in buildings with five units or more were at a rate of 125,000 in January.

Privately-owned housing completions in January were at a seasonally adjusted annual rate of 512,000. This is 9.5 percent below December and 22.7 percent below January 2010.

Single-family housing completions in January were at a rate of 428,000; this is 7 percent below December. The January rate for units in buildings with five units or more was 77,000.

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