Housing starts in January were at a seasonally adjusted annual rate of 1,309,000. This is 4.5% below the revised December estimate of 1,371,000 and is 21.4% below the January 2022 rate of 1,666,000.
Housing starts were mixed across the country, increasing in the Northeast (9.1%) and South (0.6%) but decreasing in the Midwest (-4.5%), and West (-1.5%).
New building permits in January were at a seasonally adjusted annual rate of 1,339,000. This is 0.1% above the revised December rate of 1,337,000 but is 27.3% below the January 2022 rate of 1,841,000. Single‐family authorizations in January were at a rate of 718,000; this is 1.8% below the revised December figure of 731,000.
Housing completions in January were at a seasonally adjusted annual rate of 1,406,000. This is 1.0% above the revised December estimate of 1,392,000 and is 12.8% above the January 2022 rate of 1,247,000. Single‐family housing completions in January were at a rate of 1,040,000; this is 4.4% above the revised December rate of 996,000.
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