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Thursday, February 21, 2013

January Housring Starts and Permit Data

U.S. builders broke ground on fewer homes last month but a jump in permits for future construction to a 4-1/2-year high indicated the housing market recovery remains on track.
Housing starts fell 8.5 percent in January, as multifamily starts tumbled 24.1 percent, partially reversing the prior month’s 34.7 percent rise. Single-family starts rose 0.8 percent and permits rose in both categories.

Following a downward revision in December, sales of existing homes increased 0.4 percent in January to an annualized 4.92 million unit rate. Tight inventory remains a major factor for many markets.

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