Housing Starts Down, Permits Up in January
Washington, DC, Feb. 20, 2013 -- Housing starts fell 8.5% in January after rising 15.7% in December, according to the Commerce Department.
The government report said new-home construction totaled a seasonally adjusted annual rate of 890,000 last month, a lower number than analysts anticipated.
The number of building permits, however, rose from December to an annual rate of 925,000, up 1.8% from December's 909,000.
The pace of construction of single-family homes rose 0.8% in January, while apartment construction starts fell 24.1%.