The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for January 2016. According to the data, building permits for privately-owned housing units in January were at a seasonally adjusted annual rate of 1,202,000, down 0.2 percent from the revised December rate of 1,204,000. However, the rate is up 13.5 percent from the January 2015 rate of 1,059,000. Building permits for single-family housing in January were estimated at 720,000, down 1.6 percent from the revised December rate of 732,000. Building permits for units in buildings with five units or more in January were at a rate of 442,000.
In January, privately-owned housing starts were at an adjusted rate of 1,099,000, down 3.8 percent from December’s revised estimate of 1,143,000, but were up 1.8 percent from the January 2015 rate of 1,080,000. Single-family housing starts were at a rate of 731,000 in January, down 3.9 percent from the revised December rate of 761,000. For units in buildings with five units or more, the January rate was 354,000.
As for housing completions, the January rate for privately-owned housing was at a seasonally adjusted annual estimate of 1,057,000, up 2.0 percent from December’s revised rate of 1,036,000, and up 8.4 percent from the January 2015 estimate of 975,000. Single-family housing completions were at a rate of 693,000 for January, dropping 1.4 percent below December’s revised rate of 703,000. The housing completion rate for units in buildings with five units or more was at 351,000 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 2016.