Housing Starts Slump 8.5% in January

The U.S. Department of Commerce reported this week that privately-owned housing starts in January were at a seasonally adjusted annual rate of 890,000, 8.5% percent below the revised December estimate of 973,000, but 23.6% above the January 2012 rate of 720,000. Single-family housing starts in January were at a rate of 613,000; 0.8% above the revised December figure of 608,000. The January rate for units in buildings with five units or more was 260,000.

David Crowe, chief econom

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