Housing Starts Fall in January Due to Severe Weather
Due largely to unusually severe weather across much of the nation, housing starts fell 16% to a seasonally adjusted annual rate of 880,000 units in January, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Meanwhile, single-family permits, which are often a harbinger of future building activity, posted a modest 1.3% decline to a seasonally adjusted annual pace of 602,000 units.