January Housing Starts Hit a 3-Month Low
mandy • February 17, 2016
The Commerce Department reported that January Housing Starts fell 3.8 percent from December to an annual rate of 1.099 million units. This was lower than the 1.171 million expected and a three-month low. All four major regions across the country saw declines, but a big East Coast snowstorm caused a halt in some late-month construction. January Building Permits, a sign of future construction, hit 1.202 million units, just above the 1.200 million expected. December Building Permits was revised lower to 1.204 million from 1.232 million.
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Home price gains continued in February, though moderation has been seen in some regions.
A sharp decline in the West sent New Home Sales lower by 1.5 percent in March.
CoreLogic reports that home prices, including distressed sales, rose by 6.8 percent from February 2015 to February 2016.
