US Housing Starts Rise in January; Permits Fall, Completions Rise

On Thursday, the US Census Bureau reported that privately owned housing starts were at a seasonally adjusted annual rate of 1,487,000 in January, a 7.2% increase from December’s revised 1,387,000 and 9.5% above the January 2025 level of 1,358,000. Single-family starts were 935,000, a 2.8% decline from December. The rate for units in buildings with five units or more was 524,000.

Building permits, a forward-looking measure, were at a rate of 1,376,000 in January, a 5.4% decline from December and 5.8% below the January 2025 level of 1,460,000. Single-family authorizations were 873,000, a 0.9% decline from December. Authorizations of units in buildings with five units or more were at a rate of 453,000.

Housing completions were at a rate of 1,527,000 in January, 4.8% above December’s 1,457,000 but 7.5% below the January 2025 level of 1,651,000. Single-family completions were 970,000, a 1.0% decline from December. The rate for units in buildings with five units or more was 532,000.