News

Building permits inched up 0.1% in January but fell 1.7% over the year. Permits for single-family homes in January stayed the same from December but declined 3.4% over the year. Meanwhile, permits for buildings with five or more units fell 1.4% from December but rose 0.2% over the year.

In January, housing starts plunged 9.8% from December and slipped 0.7% from January 2024. Additionally, starts for single-family homes fell 8.4% from December and 1.8% from January 2024. Meanwhile, starts for buildings with five or more units decreased 11.0% from December but improved 2.3% over the year.

On the other hand, housing completions increased 7.6% over the month and 9.8% over the year. Single-family home completions grew 7.1% from December and 8.9% from January 2024. Completions for buildings with five or more units grew 10.1% over the month and 11.8% from one year ago.