Keeping you up to date on the latest data releases.
New privately-owned housing starts rose 1.5 percent in January to a seasonally-adjusted annualized rate of 699,000 units. January’s increase in new privately-owned housing starts was driven by a large increase in multi-family starts—which rose 8.5 percent—compared to a 27.9 percent decline in December. Comparatively, single-family housing starts fell 1.0 percent in December to a seasonally-adjusted annualized rate of 508,000. January’s decline in single-family starts ends four consecutive months of monthly increases. Compared to January 2011, new privately-owned housing starts are up 9.9 percent, with numbers of new multi-family housing starts down 4.0 percent and the number of single-family housing starts up 16.2 percent.
New privately-owned housing units authorized were up 0.7 percent in January to a seasonally-adjusted annualized rate of 676,000 units. January’s improvement in new privately-owned housing authorized was the result of increases in both multi-family and single-family housing units authorized. In January, single-family housing permits rose 0.9 percent to a seasonally-adjusted annualized rate of 445,000 units. On a year-over-year basis, new privately-owned housing units authorized are up 19.0 percent, with multi-family housing permits—which tend to be more volatile—up 55.0 percent and single-family housing permits up 6.2 percent.