Housing starts fall in January

Housing starts fell 16 percent from December 2013 to January, according to the U.S. Census Bureau. Construction decreased to a seasonally adjusted annual rate of 880,000 compared with 1.05 million in December 2013.

Single-family housing starts fell 15.9 percent. Building permit applications, which are viewed as a barometer of future construction, fell 5.4 percent in January to 937,000.

Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low. However, housing starts were 2 percent lower in January than in January 2013. A 1.5 million annual rate still is needed to be considered healthy.

Date : 2/21/2014