US Housing Starts Fall 4.1% in January as Overall Permits Rise Slowly

Source: Census Bureau

The US recorded a 4.1% slump in privately-owned housing starts which hit 1.638 million in January.  SPY is down 0.64%, DXY is up +0.01%.

• Despite the drop, housing starts in January were still 0.8% higher than the same month of 2021.
• The decline in housing starts happens even as overall authorizations improved marginally by a monthly 0.7% to 1.899 million in January. The permits were 0.8% above January 2021.
• Housing completions also edged lower by 5.2% to 1.246 million in January. The completions were 6.2% below January 2021.