January Housing Starts Down 4.1% from Dec., but Up 0.8% YOY

Washington, DC, February 17, 2022-Privately‐owned housing starts in January were at a seasonally adjusted annual rate of 1,638,000, 4.1% below the revised December estimate of 1,708,000 but 0.8% above the January 2021 rate of 1,625,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced. Single‐family housing starts in January were at a rate of 1,116,000; this is 5.6% below the revised December figure of 1,182,000. The January rate for units in buildings with five units or more was 510,000.

Privately‐owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,899,000. This is 0.7% above the revised December rate of 1,885,000 and is 0.8% above the January 2021 rate of 1,883,000. Single‐family authorizations in January were at a rate of 1,205,000; this is 6.8% above the revised December figure of 1,128,000. Authorizations of units in buildings with five units or more were at a rate of 629,000 in January.

Privately‐owned housing completions in January were at a seasonally adjusted annual rate of 1,246,000. This is 5.2% below the revised December estimate of 1,315,000 and is 6.2% below the January 2021 rate of 1,328,000. Single‐family housing completions in January were at a rate of 927,000; this is 7.3% below the revised December rate of 1,000,000. The January rate for units in buildings with five units or more was 309,000.