Residential Building Permits Up 7.4% in January

Privately owned housing starts for January up 7.3 percent year-over-year.

Privately owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,396,000. This is 7.4 percent above the revised December rate of 1,300,000 and is 7.4 percent above the January 2017 rate of 1,300,000.

Single-family authorizations in January were at a rate of 866,000; this is 1.7 percent below the revised December figure of 881,000. Authorizations of units in buildings with five units or more were at a rate of 479,000 in January.

Privately owned housing starts in January were at a seasonally adjusted annual rate of 1,326,000. This is 9.7 percent above the revised December estimate of 1,209,000 and is 7.3 percent above the January 2017 rate of 1,236,000. Single-family housing starts in January were at a rate of 877,000; this is 3.7 percent above the revised December figure of 846,000. The January rate for units in buildings with five units or more was 431,000.

Privately owned housing completions in January were at a seasonally adjusted annual rate of 1,166,000. This is 1.9 percent below the revised December estimate of 1,188,000, but is 7.7 percent above the January 2017 rate of 1,083,000. Single-family housing completions in January were at a rate of 850,000; this is 2.2 percent above the revised December rate of 832,000. The January rate for units in buildings with five units or more was 305,000.

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