Housing Starts Retreat from Outstanding January Numbers

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Posted To: MND NewsWire

Residential construction numbers continued to see-saw in February. Housing starts were particularly disappointing after their stellar performance in January. Completions is the only indicator that is running ahead of its 2018 counterpart. Permits for construction of residential units were issued at a seasonally adjusted annual rate of 1,296,000 units, a 1.6 percent decline from the January rate of 1,317,000 units, and the January number was a downward revision of the 1,345,000 units originally reported. Permits dipped by 2.0 percent from the February 2018 rate of 1,323,000. Analysts polled by Econoday were forecasting authorizations in the range of 1,290,000 to 1,320,000 units. The consensus was 1,300,000. Single-family permits were issued at an annual rate of 821,000, unchanged from the revised…(read more)

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