Housing Starts Reverse January Downturn

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Posted To: MND NewsWire

Housing starts recovered from a disappointing January report in February but permits declined for the third consecutive month according to data released today by the U.S. Census Bureau and the Department of Housing and Urban Development. Housing completions were also down on a month-over-month basis. Permits for residential construction were issued at a seasonally adjusted annual rate of 1,167,000. This is down 3.1 percent from the revised January rate of 1,204,000 units but a 6.3 percent improvement over February 2015’s estimate of 1,098,000 units. The January estimate was revised up from the original report of 1,202,000 units. Analysts polled by Econoday had predicted that permits would be essentially unchanged from the January number at 1.202 million with a range of predictions ranging from…(read more)

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