Housing starts fall in January

Housing starts fell 2.6 percent from December 2016 to January, according to the U.S. Census Bureau. Construction decreased to a seasonally adjusted annual rate of 1.246 million compared with a revised estimate of 1.279 million in December 2016.

Single-family housing starts rose 1.9 percent. Building permit applications, which are viewed as a barometer of future construction, increased 4.6 percent in January to 1.285 million.

Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low, and they were 10.5 percent higher in January than in January 2016. A 1.5 million annual rate still is needed to be considered healthy.

Date : 2/17/2017