Housing starts fell slightly in January compared to December, but still remain at a solid pace overall and applications for building permits rose, the Associated Press reports today (via Bloomberg BusinessWeek). The decline was due largely to a drop in apartment construction, which fell 24 percent. Single-family homes were up 0.8 percent.
Even with the overall decline, the pace of home construction in January was the third-highest since 2008 and was evidence of continued strengthening in residential real estate, according to the article.
Other coverage of the latest housing starts data:
Housing starts fall 8.5% in January – USA Today