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In The News:

Housing Starts Fall 16.8% From December

Privately-owned housing starts in January were at a seasonally adjusted annual rate of 466,000, 16.8% below December and 56.2% below January 2008, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
 
Single-family housing starts in January were at a rate of 347,000; this is 12.2% below the December figure of 395,000. The January rate for units in buildings with five units or more was 114,000.
 
By region, in the Northeast starts were down 73.7% from January 2008; in the Midwest they were down 66%; the South saw a drop of 53.7%, and the West declined 45.4%.
 
Permits
Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 521,000. This is 4.8% below the revised December rate of 547,000 and is 50.5% below the revised January 2008 estimate of 1,052,000.
 
Single-family authorizations in January were at a rate of 335,000; this is 8.0% below the December figure of 364,000. Authorizations of units in buildings with five units or more were at a rate of 166,000 in January.
 
Housing Completions
Privately-owned housing completions in January were at a seasonally adjusted annual rate of 776,000. This is 24.2% below the revised December estimate of 1,024,000 and is 41.7% below the revised January 2008 rate of 1,331,000. Single-family housing completions in January were at a rate of 566,000; this is 17.5% below the December figure of 686,000. The January rate for units in buildings with five units or more was 203,000.

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