- Prior month housing starts 1.460 million. Prior month building permits 1.495 million
Housing Starts details:
- Housing starts 1.331M vs 1.460M estimate
- Housing starts change for January -14.8% vs -4.3% prior
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Housing starts represents a slight decrease of 0.7% from the January 2023 rate of 1,340,000, with a margin of error of ±11.7%.
- Single-family housing starts in January were at a rate of 1,004,000, marking a 4.7% decrease from the revised December figure of 1,054,000, with a margin of error of ±11.6%.
- The rate for units in buildings with five units or more was 314,000 in January.
Building Permits Details:
- Building permits 1.470M vs 1.509M estimate
- Building permits change -1.5% vs 1.9% last month.
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Building permits are up 8.6% increase compared to the January 2023 rate of 1,354,000.
- Single-family authorizations in January were at a rate of 1,015,000, which is 1.6% higher than the revised December rate of 999,000.
- Authorizations for units in buildings with five units or more were at a rate of 405,000 in January.
Housing Completions:
- Privately-owned housing completions in January were at a seasonally adjusted annual rate of 1,416,000.
- This represents an 8.1% decrease from the revised December estimate of 1,541,000, with a margin of error of ±10.0%.
- However, it is a 2.8% increase from the January 2023 rate of 1,377,000, with a margin of error of ±14.6%.
- Single-family housing completions in January were at a rate of 857,000, which is 16.3% lower than the revised December rate of 1,024,000, with a margin of error of ±7.9%.
- The rate for units in buildings with five units or more was 538,000 in January
This article was written by Greg Michalowski at www.forexlive.com.