Building Permits Up 8.1% in January

Washington, D.C., March 5, 2015—U.S. building permits rose 8.1% in January, says the U.S. Census Bureau and the Department of Housing and Urban Development following new residential construction statistics for January 2015.

Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,053,000. This is 0.7% (±0.6%) below the revised December rate of 1,060,000, but is 8.1% (±2.0%) above the January 2014 estimate of 974,000.

Single-family authorizations in January were at a rate of 654,000; this is 3.1% (±0.9%) below the revised December figure of 675,000. Authorizations of units in buildings with five units or more were at a rate of 372,000 in January.

Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,065,000. This is 2.0% (±10.4%) below the revised December estimate of 1,087,000, but is 18.7% (±14.5%) above the January 2014 rate of 897,000.

Single-family housing starts in January were at a rate of 678,000; this is 6.7% (±10.6%)* below the revised December figure of 727,000.

The January rate for units in buildings with five units or more was 381,000.

Privately-owned housing completions in January were at a seasonally adjusted annual rate of 930,000. This is 1.3% (±7.4%) above the revised December estimate of 918,000 and is 9.4% (±10.4%)* above the January 2014 rate of 850,000.

Single-family housing completions in January were at a rate of 649,000; this is 2.3% (±7.0%)* below the revised December rate of 664,000.

The January rate for units in buildings with five units or more was 274,000.