US housing starts fall in Jan
The data from US Census Bureau and the Department of Housing and Urban Development reveals that privately owned housing starts stood at 1,246,000 with an decrease of 2.6% from 1,279,000 registered in December. Market expectations were calling for housing starts to stand at 1,232,000 in January.
Building permits in January were up by 4.6% month on month to 1,285,000 and beat the expectations 1,232,000, the data showed.
The fall in housing starts in January was attributed to the decrease in multi-family housing starts, which were down by 7.9% after a jump of 53.9% in December.
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