Housing Starts & Building Permits Fell in January but Remain Up YOY

Washington, DC, February 17, 2016—Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,202,000, 0.2% below the revised December rate of 1,204,000 but 13.5% above the January 2015 estimate of 1,059,000, the U.S. Census Bureau and the Department of Housing and Urban Development jointly announced.

Single-family authorizations in January were at a rate of 720,000, 1.6% below the revised December figure of 732,000. Authorizations of units in buildings with five units or more were at a rate of 442,000 in January.

Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,099,000, 3.8% below the revised December estimate of 1,143,000 but 1.8% above the January 2015 rate of 1,080,000.

Single-family housing starts in January were at a rate of 731,000; this is 3.9% below the revised December figure of 761,000. The January rate for units in buildings with five units or more was 354,000.

Privately-owned housing completions in January were at a seasonally adjusted annual rate of 1,057,000. This is 2.0% above the revised December estimate of 1,036,000 and is 8.4% above the January 2015 rate of 975,000.

Single-family housing completions in January were at a rate of 693,000, 1.4% below the revised December rate of 703,000. The January rate for units in buildings with five units or more was 351,000.