Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,099,000, 3.8% below the revised December estimate of 1,143,000, but 1.8% above the January 2015 rate of 1,080,000. Single-family housing starts in January were at a rate of 731,000, 3.9% below the revised December figure of 761,000. The January rate for units in buildings with five units or more was 354,000.
“Despite the modest dip in starts this month, we expect to see ongoing, gradual growth in housing production in 2016,” David Crowe, chief economist, National Association of Home Builders (NAHB). “An improving economy, solid job creation and pent-up demand for housing should keep the market moving forward.”
