New Residential Construction Edges Up in January
Privately-owned housing starts climb 1.5 percent for month.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for January 2012:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 676,000. This is 0.7 percent (±1.2%)* above the revised December rate of 671,000 and is 19.0 percent (±2.4%) above the January 2011 estimate of 568,000.
Single-family authorizations in January were at a rate of 445,000; this is 0.9 percent (±1.1%)* above the revised December figure of 441,000. Authorizations of units in buildings with five units or more were at a rate of 208,000 in January.
HOUSING STARTS
Privately-owned housing starts in January were at a seasonally adjusted annual rate of 699,000. This is 1.5 percent (±16.8%)* above the revised December estimate of 689,000 and is 9.9 percent (±14.2%)* above the January 2011 rate of 636,000.
Single-family housing starts in January were at a rate of 508,000; this is 1.0 percent (±19.0%)* below the revised December figure of 513,000. The January rate for units in buildings with five units or more was 175,000.
HOUSING COMPLETIONS
Privately-owned housing completions in January were at a seasonally adjusted annual rate of 530,000. This is 12.0 percent (±8.8%) below the revised December estimate of 602,000, but is 4.1 percent (±13.6%)* above the January 2011 rate of 509,000.
Single-family housing completions in January were at a rate of 389,000; this is 14.9 percent (±9.6%) below the revised December rate of 457,000. The January rate for units in buildings with five units or more was 136,000.
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