Severe Weather Depresses Housing Starts

Washington, DC, Feb. 19, 2014 -- Housing starts fell in January for the second straight month, according to the Commerce Department.

Meanwhile, permits fell to a rate of 937,000 in January from 991,000 in December,

Starts of single-family houses and apartments fell 16% to a seasonally adjusted annual rate of 880,000 last month, as severe weather depressed activity.

Starts in December were revised up to an annual rate of 1.05 million from 990,000.

Economists had expected a reading of 950,000 in January.

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