Housing Construction Rose in January; Permits fell
Home construction rose more than expected in January, while the number of building permits issued in the month dropped, according to a government report issued Wednesday.
Construction of new homes climbed to an annual rate of 591,000 during the month, up 2.8% from December’s revised rate of 575,000, the Commerce Department said.
Economists surveyed by Briefing.com expected January housing starts to rise to an annual rate of 580,000.
The number of building permits issued during January fell 4.9% to a seasonally adjusted annual rate of 621,000. Economists had predicted building permits would fall to 620,000