Housing Starts and Building Permits Fell

Some bad news, Housing starts and building permits fell in January.

Here is details, The pace of housing starts fell 2 % to an annualized rate of 1.065 million. This was a bit worse than the 1.070 million rate expected by economists poll

Housing by segment, Single family starts fell by 6.7 %, while multi-family starts jumped 7.5 %.

But the data is not so bad at all, Despite the decline, the pace of starts is still pretty high.

"This is the fifth consecutive month with starts above the million mark," BNP Paribas' Bricklin Dwyer noted.

Building permits fell 0.7 % to a rate of 1.053 million units. Economists were looking for a pace of 1.063 million units.

The unexpected decline in permits suggests starts will continue to be weak in upcoming periods. So let see