The 2020 Mid-Year Economic Update_long

Residential Building Permits Up 22.5% in January

But housing starts down compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
residential construction January 2021

Privately owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,881,000, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is 22.5% above the January 2020 rate of 1,536,000 and 10.4% above the revised December 2020 rate of 1,704,000.

Single-family authorizations in January were at a rate of 1,269,000; this is 3.8% above the revised December 2020 figure of 1,223,000. Authorizations of units in buildings with five units or more were at a rate of 557,000 in January.

Privately owned housing starts in January were at a seasonally adjusted annual rate of 1,580,000. This is 2.3% below the January 2020 rate of 1,617,000 and 6% below the revised December estimate of 1,680,000. Single-family housing starts in January were at a rate of 1,162,000; this is 12.2% below the revised December figure of 1,323,000. The January rate for units in buildings with five units or more was 402,000.

Privately owned housing completions in January were at a seasonally adjusted annual rate of 1,336,000. This is 2.4% above the January 2020 rate of 1,305,000 and 2.3% below the revised December estimate of 1,368,000. Single-family housing completions in January were at a rate of 1,036,000; this is 10% above the revised December rate of 942,000. The January rate for units in buildings with five units or more was 296,000.

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