U.S. Census Bureau: Monthly New Residential Construction, January 2023

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The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for January 2024:

Building Permits

Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,470,000. This is 1.5 percent below the revised December rate of 1,493,000, but is 8.6 percent above the January 2023 rate of 1,354,000. Single-family authorizations in January were at a rate of 1,015,000; this is 1.6 percent above the revised December figure of 999,000. Authorizations of units in buildings with five units or more were at a rate of 405,000 in January.

Housing Starts

Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,331,000. This is 14.8 percent (±10.2 percent) below the revised December estimate of 1,562,000 and is 0.7 percent (±11.7 percent)* below the January 2023 rate of 1,340,000. Single-family housing starts in January were at a rate of 1,004,000; this is 4.7 percent (±11.6 percent)* below the revised December figure of 1,054,000. The January rate for units in buildings with five units or more was 314,000.

Housing Completions

Privately-owned housing completions in January were at a seasonally adjusted annual rate of 1,416,000.  This is 8.1 percent (±10.0 percent)* below the revised December estimate of 1,541,000, but is 2.8 percent (±14.6 percent)* above the January 2023 rate of 1,377,000. Single-family housing completions in January were at a rate of 857,000; this is 16.3 percent (±7.9 percent) below the revised December rate of 1,024,000. The January rate for units in buildings with five units or more was 538,000.

The February report is scheduled for release on March 19, 2024. View the full schedule in the Economic Briefing Room: < www.census.gov/economic-indicators/ > . The full text and tables for this release can be found at < www.census.gov/construction/nrc/ >.

To view the original release, click here.

Source: U.S. Census Bureau