Housing Starts Fell 2.6% from Dec. to Jan., But Rose 10.5% YOY

Washington, DC, February 16, 2017—Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,246,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced.

This is 2.6% below the revised December estimate of 1,279,000, but is 10.5% above the January 2016 rate of 1,128,000.

Single-family housing starts in January were at a rate of 823,000; this is 1.9% above the revised December figure of 808,000. The January rate for units in buildings with five units or more was 421,000.

Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,285,000. This is 4.6% above the revised December rate of 1,228,000 and is 8.2% above the January 2016 rate of 1,188,000. Single-family authorizations in January were at a rate of 808,000; this is 2.7% below the revised December figure of 830,000. Authorizations of units in buildings with five units or more were at a rate of 446,000 in January.

Privately-owned housing completions in January were at a seasonally adjusted annual rate of 1,047,000. This is 5.6% below the revised December estimate of 1,109,000 and is 0.9% below the January 2016 rate of 1,056,000. Single-family housing completions in January were at a rate of 800,000; this is 4.3% above the revised December rate of 767,000. The January rate for units in buildings with five units or more was 244,000.