U.S. New Home Starts Fell 16.0% in Jan.; Building Permits Sank 5.4% (XHB)
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The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for January 2014:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 937,000. This is 5.4 percent (±0.7%) below the revised December rate of 991,000, but is 2.4 percent (±1.0%) above the January 2013 estimate of 915,000.
*** The Street was looking for 980,000.
Single-family authorizations in January were at a rate of 602,000; this is 1.3 percent (±0.8%) below the revised December figure of 610,000. Authorizations of units in buildings with five units or more were at a rate of 309,000 in January.
HOUSING STARTS
Privately-owned housing starts in January were at a seasonally adjusted annual rate of 880,000. This is 16.0 percent (±10.5%) below the revised December estimate of 1,048,000 and is 2.0 percent (±10.8%)* below the January 2013 rate of 898,000.
*** Consensus expectations were for starts of 960,000.
Single-family housing starts in January were at a rate of 573,000; this is 15.9 percent (±12.1%) below the revised December figure of 681,000. The January rate for units in buildings with five units or more was 300,000.
HOUSING COMPLETIONS
Privately-owned housing completions in January were at a seasonally adjusted annual rate of 814,000. This is 4.6 percent (±8.3%)* above the revised December estimate of 778,000 and is 13.1 percent (±12.8%) above the January 2013 rate of 720,000.
Single-family housing completions in January were at a rate of 580,000; this is 3.0 percent (±7.3%)* above the revised December rate of 563,000. The January rate for units in buildings with five units or more was 220,000.
BUILDING PERMITS
Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 937,000. This is 5.4 percent (±0.7%) below the revised December rate of 991,000, but is 2.4 percent (±1.0%) above the January 2013 estimate of 915,000.
*** The Street was looking for 980,000.
Single-family authorizations in January were at a rate of 602,000; this is 1.3 percent (±0.8%) below the revised December figure of 610,000. Authorizations of units in buildings with five units or more were at a rate of 309,000 in January.
HOUSING STARTS
Privately-owned housing starts in January were at a seasonally adjusted annual rate of 880,000. This is 16.0 percent (±10.5%) below the revised December estimate of 1,048,000 and is 2.0 percent (±10.8%)* below the January 2013 rate of 898,000.
*** Consensus expectations were for starts of 960,000.
Single-family housing starts in January were at a rate of 573,000; this is 15.9 percent (±12.1%) below the revised December figure of 681,000. The January rate for units in buildings with five units or more was 300,000.
HOUSING COMPLETIONS
Privately-owned housing completions in January were at a seasonally adjusted annual rate of 814,000. This is 4.6 percent (±8.3%)* above the revised December estimate of 778,000 and is 13.1 percent (±12.8%) above the January 2013 rate of 720,000.
Single-family housing completions in January were at a rate of 580,000; this is 3.0 percent (±7.3%)* above the revised December rate of 563,000. The January rate for units in buildings with five units or more was 220,000.
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