Apartment construction slows in January; single-family starts rise slightly

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 JanuaryUSA Today

Housing Starts Slide, Permits Rise in JanuaryFox News

 

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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.