The U.S. Census Bureau said privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,065,000, 2% below the revised December estimate of 1,087,000, but 18.7% above the January 2014 rate of 897,000. Single-family housing starts in January were at a rate of 678,000, 6.7% below the revised December figure of 727,000. The January rate for units in buildings with five units or more was 381,000.
“After a strong single-family report in December, it is not surprising to see some pull back in January,” said David Crowe, chief economist, National Association of Home Builders (NAHB), Washington, D.C., in a press release announcing the data.
