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Jan Housing Starts Below Expected; Permits Up

US DATA
MNI (Washington)
  • U.S. housing starts in January fell to a seasonally adjusted annual rate of 1.580 million, below forecasts for a saar of 1.669 million. From one year ago, starts were down 2.3%.
  • December's 1.669 million saar was revised down to 1.680 million.
  • Meanwhile, building permits surged in January, reaching a saar of 1.881 million when markets had expected permits to slow to 1.680 million from December's unrevised 1.704 million pace. From one year ago, permits were up 22.5%.
  • Completions fell 2.3% in January to a 1.336 million unit pace, down slightly from December but up 2.4% from one year ago.
MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com

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