Housing starts were at a seasonally adjusted annual rate of 1.64 million in January, according to the U.S. Census Bureau. This is 4.1% below the revised December estimate of 1.71 million but is 0.8% above the January 2021 rate of 1.63 million.
Housing starts were mixed across the country, increasing in the Northeast (2.6%) and West (17.7%), and decreasing in the Midwest (37.7%) and South (2.0%).
New building permits were 1.90 million in December, 0.7% above the previous month and is 0.8% above the January 2021 rate of 1.88 million. Single-family building permits increased 6.8% from the revised December figure.
Housing completions were at a seasonally adjusted annual rate of 1.25 million in January. This is 5.2% below the revised December estimate of 1.32 million and is 6.2% below the January 2021 rate of 1.33 million.
Read the Census release.