Ekonomické zprávy

U.S. housing starts decline more than anticipated in January

The monthly report on new residential construction from the Commerce Department revealed on Thursday that housing starts declined by 4.5 percent m-o-m in January 2023 to a seasonally adjusted annual pace of 1.309 million (the lowest level since June 2020 (1.273 million)), while building permits increased by 0.1 percent m-o-m to a seasonally adjusted annual rate of 1.339.

Economists had expected housing starts to fall to a pace of 1.360 million units last month and building permits to rise to a pace of 1.350 million units.

Data for December 2022 was revised to show homebuilding increasing at a pace of 1.371 million units, instead of rising at a rate of 1.382 million units as previously reported.

According to the report, permits for single-family homes, the largest segment of the market, fell by 1.8 percent m-o-m in January, while approvals for the multi-family homes segment (includes 2 to 4 and 5 or more housing units) increased by 2.5 percent m-o-m.

In the meantime, groundbreaking on single-family homes tumbled by 4.3 percent m-o-m in January, while multi-unit starts plunged by 5.4 percent m-o-m.

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