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- U.S. housing market data was weaker than expected in January
U.S. housing market data was weaker than expected in January
The U.S. Commerce Department released the housing market data on Wednesday. Housing starts in the U.S. fell 2.0% to 1.065 million annualized rate in January from a 1.087 million pace in December, missing expectations for a decrease to 1.070 million. December's figure was revised down from 1.089 million units.
Building permits in the U.S. decreased 0.7% to 1.053 million annualized rate in January from a 1.06 million pace in December. Analysts had expected the pace to remain unchanged at 1.06 million units.
Starts of single-family homes dropped 6.7% to 678,000 units in January. Building permits for single-family homes declined 3.1%.
Starts of multifamily buildings rose 7.5% to 360,000 units in January. Permits for multi-family housing increased 3.6%.
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