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Housing Starts and Building Permits Fall, but Remain Near Recent Highs

Wednesday, February 18, 2015

The Census Bureau and the Department of Housing and Urban Development's New Residential Construction summary for January 2015 showed mixed and mostly modest results when compared to the December data, however most numbers improved year-over-year.

Permits to construct new residential buildings were at a seasonally adjusted annual rate of 1,053,000 units.  This was a dip of 0.7 percent from the number of permits issued in December, an estimated 1,060,000, revised upward from the 1,032,000 permits originally reported.  The January number was 8.1 percent higher than the 974,000 permits authorized one year earlier.

Permits for single-family houses were estimated at 654,000, 3.1 percent fewer than in December. Units in buildings with five or more rose 3.3 percent to 372,000 from 360,000.

 

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