U.S. housing starts fall 8.5% in January

By Qiong (June) Zhang10 Comments

http://www.marketwatch.com/story/housing-starts-slump-as-apartment-building-slows-2013-02-20

The U.S. Department of Commerce reported that construction on new U.S. homes fell 8.5% in January to a seasonally adjusted annual rate of 890,000.

Economists polled by MarketWatch had expected January’s starts to decline to a rate of 914,000 from an original December estimate of 954,000, on Wednesday the government revised December’s starts rate to 973,000.

The housing starts data are volatile from month to month. Looking longer term, starts have increased 24% from a year ago, but remain below a bubble peak of almost 2.3 million in 2006.

Although overall construction on new U.S. homes fell sharply in January, growth continued on a year-over-year basis. Starts for single-family homes increased 20% from the same period in the prior year. Starts for single-family homes ticked up 0.8% to a rate of 613,000, the highest rate since July 2008.

The government also reported Wednesday that building permits, a sign of future demand, rose 1.8% in January to a rate of 925,000 — the highest rate since June 2008. Permits for single-family homes rose 1.9% to a rate of 584,000.

By region, starts dropped 50% in the Midwest and 35% in the Northeast. Meanwhile, starts rose 17% in the West and 4% in the South.

News

10 Comments to “U.S. housing starts fall 8.5% in January”

  1. Merry says:

    Greate pieces. Keep writing such kind of
    info on your page. Im really impressed by it.
    Hey there, You’ve performed a great job. I’ll definitely digg it and personally suggest to my friends.
    I’m confident they will be benefited from this website.

  2. Jesus says:

    Its like you read my mind! You seem to know a lot about this,
    like you wrote the book in it or something. I think that you can do with a few
    pics to drive the message home a little bit, but instead of that, this is magnificent blog.
    A great read. I will certainly be back.

  3. Tiffany says:

    Thanks for some other great article. Where else may
    just anyone get that type of info in such a perfect manner of writing?
    I have a presentation subsequent week, and I’m on the
    search for such info.

  4. Randell says:

    whoah this blog is excellent i really like studying your posts.
    Keep up the great work! You recognize, many people are searching around for this information,
    you can help them greatly.

  5. hi says:

    Awesome! Its actually awesome paragraph, I have got much clear idea concerning from this paragraph.|

  6. Joy says:

    Appreciate the recommendation. Let me try it out.

  7. Kari says:

    I don’t know if it’s just me or if everyone else encountering issues with your website.
    It appears as though some of the text within your content are
    running off the screen. Can somebody else please comment and let me know if
    this is happening to them as well? This could be a issue with my
    web browser because I’ve had this happen previously.
    Thanks

  8. Joel says:

    Hi, I do believe this is a great website. I stumbledupon it ;) I am going to come back yet again since I saved
    as a favorite it. Money and freedom is the best way to change, may you be rich and continue to guide other people.

  9. I didn’t know that.

  10. Wnrdju says:

    buy lyrica 75mg generic – order lyrica 150mg generic order pregabalin generic

Leave your Comment

Blue Taste Theme created by Jabox