U.S. Housing Starts Slipped In January

0 Shares

WASHINGTON (UPI) — Residential construction starts slipped in January from December but permits issued rose, the U.S. Department of Commerce said Wednesday.

The department said project starts fell 8.5 percent from December’s revised figure of 973,000 starts on a seasonally adjusted annual rate.

The 890,000 starts for January, however, are 23.6 percent more than January 2012, when the rate stood at 720,000.

Disappointment in the number of starts was eased by an increase in permits issued, which indicates a rise in construction in one and two months.

Permits for privately owned housing units rose to a seasonally adjusted annual rate of 925,000, a 1.8 percent gain over December and a 35.2 percent gain over the 684,000 permits issued in January 2012.

Residential project completions came to an annual rate of 724,000 in January on a seasonally adjusted basis, a 6 percent gain over November and a 33.6 percent gain over January 2012, Commerce said in a release issued with the Department of Housing and Urban Development.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.