U.S. housing starts fell 4.5% in January to lowest level since mid-2020
The numbers: Construction on new U.S. homes fell a seasonally adjusted 4.5% in January to 1.31 million, the Commerce Department said Thursday.
The drop was larger than what Wall Street expected. Economists polled by the Wall Street Journal expected housing starts to drop to a 1.35 million rate from December’s initial estimate of 1.38 million.The annual rate of total housing starts fell from 27.3% from the previous year. Permits for single-family homes fell 1.8% in January, while permits in buildings with at least five units rose by 0.5%.
Big picture: The housing starts data likely reflects builders’ subdued sentiment from back in January, when they were only slowly becoming confident that buyers would return.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US new home construction fell in January for the fifth straight month | CNN BusinessUS home building fell again in January, marking five straight months of declines, even as mortgage rates moderated and inflation cooled.
Read more »
Opinion | Newly surfaced report makes Trump's 2020 fundraising scam even clearerAn independent report showing no widespread election fraud in 2020 would have gotten in the way of the Trump campaign's fundraising.
Read more »
Pence will fight subpoena in special counsel probe of Trump's attempt to overturn 2020 electionPence is planning to fight a subpoena by the special counsel investigating Trump over his efforts to overturn his loss to Biden in the 2020 election.
Read more »
Pence to fight special counsel subpoena on 2020 electionWASHINGTON (AP) — Former Vice President Mike Pence is planning to fight a subpoena by the special counsel overseeing investigations into efforts by former President Donald Trump and his allies to overturn the results of the 2020 election, according to people familiar with his thinking.
Read more »
Pence to fight special counsel subpoena on Trump’s 2020 election denialThe former vice president will argue that he is protected by the Constitution’s “speech or debate' clause in his role as president of the Senate.
Read more »