A Happy New Year for Construction Stats

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Posted To: MND NewsWire

Residential construction got off to a strong start in January, with sizable increases in both permits and housing starts and only a slight downturn in completions. The gains follow a particularly disappointing performance in construction starts in December. Statistics were spotty on a regional basis, and especially weak in the Midwest. The Census Bureau and the Department of Housing and Urban Development said residential construction permits were at an annual rate of 1,396,000 units, a 7.4 percent increase over both December and January 2017. The annual rate clock in both earlier periods was 1,300,000. The December number was a slight revision from the 1,302,000 originally reported. Permitting exceeded even the highest forecasts. Analysts estimates reported by Econoday ranged from 1,260,000…(read more)

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