The U.S. Census Bureau’s most recent data show that privately-owned housing starts in January were at a seasonally adjusted annual rate of 880,000, 16% below the revised December estimate of 1,048,000 and 2% below the January 2013 rate of 898,000. Single-family housing starts in January were at a rate of 573,000, 15.9% below the revised December figure of 681,000.
“Though the decline in starts is largely weather related, it is worth noting that on the upside housing production for the fourth quarter was above 1 million for the first time since 2008 while single-family permits held relatively steady,” said David Crowe, chief economist, for the National Association of Home Builders (NAHB). Washington, D.C.