Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,567,000, -3.6% below the revised December estimate of 1,626,000, but +21.4% above the January 2019 rate of 1,291,000. According to the U.S. Census Bureau, single-family housing starts in January were at a rate of 1,010,000, -5.9% below the revised December figure of 1,073,000.
“While the solid pace for residential construction continues, favorable weather conditions may have accelerated production in the winter months,” said Danushka Nanayakkara-Skillington, assistant VP of forecasting and analysis for the National Association of Home Builders (NAHB) in the press release.
