Housing Starts, Permits Dip in January

Washington, DC, Feb. 18, 2015 -- Residential construction starts declined 2% in January to an annual rate of 1.07 million units, according to the Commerce Department.

Heavy snowfall affected builders in some regions such as the Midwest and Northeast.

Housing starts in December, meanwhile, were revised up to 1.09 million.

Permits for new construction ticked down to an annual rate of 1.05 million from December's upwardly revised level of 1.06 million.