by Residential groundbreakings also fell from revised December rate, but building permits rose slightly from December
WASHINGTON — January housing starts fell 21.4% from January 2022 and were 4.5% below a revised December estimate, according to figures released by the U.S. Census Bureau late last week.
Meanwhile, January building permits for privately owned homes were 27.3% below the rate in January 2022 and .1% above the revised December rate.
Housing starts, or what is otherwise described as a groundbreaking for a new home, totaled 1,309,000 in January, compared to 1,666,000 in January 2022 and 1,371,00 in December. Single-family housing starts in January totaled 841,000, down 4.3% from the revised December figure of 879,000, the Census Bureau reported.
Building permits issued for the construction of privately owned homes totaled 1,339,000 in January, compared to 1,841,000 in January 2022 and a revised December rate of 1,337,000. The rate for single-family homes was 718,000 in January, down 1.8% from the revised figure of 731,000 in December. Permits issued for buildings with five or more units totaled 563,000 in January.
Completions of privately owned homes in January totaled 1,406,000, up 12.8% from the 1,247,000 completed in January 2022 and 1% above the revised December estimate of 1,392,000. Single housing completions rose 4.4% in January, to 1,040,000, from a revised December rate of 996,000. The rate for buildings with five or more units in January was 349,000.
By region, the report highlights are as follows:
In the Northeast, overall housing starts rose 13.3% to 119,000 in January, from 105,000 in January 2022, and fell 42.2% from 205,000 in December.
Overall residential building permits issued in the Northeast fell 29.8% in January to 106,000 from 151,000 in January 2022 and fell 7.8% from 115,000 in December.
Ovrerall housing units completed in the Northeast rose 31% in January to 110,000, from 84,000 in January 2022 and fell 4.3 percent from 115,000 in December.
In the Midwest, overall housing starts fell 37.2% to 123,000 in January, from 196,000 in January 2022 and fell 25.9% from 166,000 in December.
Overall residential building permits issued in the Midwest fell 34.1% to 178,000 in January, from 270,000 in January 2022 but were up 1.7% from the 175,000 recorded in December.
The number of overall housing units completed in the Midwest rose 28.1% to 178,000 in January, from 139,000 in January 2022, but fell 7.3% from the 192,000 recorded in December.
In the South, overall housing starts fell 17.3% to 760,000 in January, from 919,000 in January 2022 and rose 7.3% from the 708,000 reported in December.
Overall residential building permits issued in the South fell 20.5% in January to 762,000, from 958,000 in January 2022, but rose 3% from the 740,000 recorded in December.
The number of overall housing units completed in the South rose 11.2% in January to 745,000, from 670,000 in January 2022, but fell .5% from the 762,000 reported in December.
In the West, overall housing starts fell 31.2% to 307,000 in January, from 446,000 in January 2022, and rose 5.5% from the 291,000 reported in December.
Overall residential building permits issued in the West fell 36.6% in January to 293,000 from 462,000 in January 2022 and fell 4.6% from the 307,000 reported in December.
The number of overall housing units completed in the West rose 5.4% in January to 373,000 from 354,000 in January 2022 and rose 15.5% from the 323,000 reported in December.
