Research >> Economics
January Housing starts down 16.8%, Permits down 4.8%
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BUILDING PERMITS
Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 521,000. This is 4.8 percent (±3.5%) below the revised December rate of 547,000 and is 50.5 percent (±2.2%) below the revised January 2008 estimate of 1,052,000. Single-family authorizations in January were at a rate of 335,000; this is 8.0 percent (±1.8%) below the December figure of 364,000. Authorizations of units in buildings with five units or more were at a rate of 166,000 in January.
HOUSING STARTS
Privately-owned housing starts in January were at a seasonally adjusted annual rate of 466,000. This is 16.8 percent (±11.0%) below the revised December estimate of 560,000 and is 56.2 percent (±4.4%) below the revised January 2008 rate of 1,064,000. Single-family housing starts in January were at a rate of 347,000; this is 12.2 percent (±13.0%)* below the December figure of 395,000. The January rate for units in buildings with five units or more was 114,000.
HOUSING COMPLETIONS
Privately-owned housing completions in January were at a seasonally adjusted annual rate of 776,000. This is 24.2 percent (±5.9%) below the revised December estimate of 1,024,000 and is 41.7 percent (±6.9%) below the revised January 2008 rate of 1,331,000. Single-family housing completions in January were at a rate of 566,000; this is 17.5 percent (±7.2%) below the December figure of 686,000. The January rate for units in buildings with five units or more was 203,000.
Posted: February 18, 2009 Wednesday 08:30 AM