Industry News

U.S. housing starts jump in January

Midwest, Northeast see largest growth in building permits

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Single-family housing units authorized by building permits in January were up about 2.4 percent from December and 3.1 percent above the January 2005 rate, the U.S. Census Bureau and U.S. Department of Housing and Urban Development announced today. Privately owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of about 2.22 million, which is 6.8 percent above the revised December rate and 3.8 percent above the January 2005 estimate. Authorizations of units in buildings with five units or more were at a rate of 428,000 in January. The seasonally adjusted annual rate is a projection of a monthly total over a 12-month period, accounting for seasonal variations in construction activity. Privately owned housing starts in January were at a seasonally adjusted annual rate of about 2.28 million, which is 14.5 percent above the revised December estimate and 4 percent above the January 2005 rate. Single-family housing starts in January were at ...