WASHINGTON, March 8 - U.S. homebuilding increased more than expected in January ...
FILE PHOTO: A U.S. flag decorates a for-sale sign at a home in the Capitol Hill neighborhood of Washington, August 21, 2012. REUTERS/Jonathan Ernst
Housing starts jumped 18.6 percent to a seasonally adjusted annual rate of 1.230 million units in January, the Commerce Department said on Friday. Data for December was revised down to show starts declining to a rate of 1.037 million units instead of the previously reported pace of 1.078 million units.
Economists polled by Reuters had forecast housing starts rising to a pace of 1.197 million units in January. The release of the January housing starts and building permits report was delayed by a five-week partial shutdown of the federal government that ended on Jan. 25. Single-family homebuilding, which accounts for the largest share of the housing market, surged 25.1 percent to a rate of 926,00 units in January, the highest since May 2018. The increase followed four straight monthly declines. Single-family homebuilding rose in all four regions.
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