New Residential Construction Statistics for January 2015

February 18, 2015

Construction Law


The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for January 2015.  According to the data, building permits for privately-owned housing units in January were at a seasonally adjusted annual rate of 1,053,000, down 0.7 percent from the revised December rate of 1,060,000.  However, the rate is up 8.1 percent from the January 2014 rate of 974,000.  Building permits for single-family housing in January were estimated at 654,000, down 3.1 percent from the revised December rate of 675,000.  Building permits for units in buildings with five units or more in January were at a rate of 372,000.

In January, privately-owned housing starts were at an adjusted rate of 1,065,000, down 2.0 percent from December’s revised estimate of 1,087,000, but were up 18.7 percent from the January 2014 rate of 897,000.  Single-family housing starts were at a rate of 678,000 in January, down 6.7 percent from the revised December rate of 727,000.  For units in buildings with five units or more, the January rate was 381,000.

As for housing completions, the January rate for privately-owned housing was at a seasonally adjusted annual estimate of 930,000, up 1.3 percent from December’s revised rate of 918,000, and up 9.4 percent from the January 2014 estimate of 850,000. Single-family housing completions were at a rate of 649,000 for January, dropping 2.3 percent below December’s revised rate of 664,000. The housing completion rate for units in buildings with five units or more was at 274,000 in January.

For more information, click here to read the full U.S. Census Bureau/U.S. Department of Housing & Urban Development Press Release for January 2015.