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February 16, 2023US HOUSING STARTS AND BUILDING PERMITS, JANUARY 2023 
Month over month (Jan 23 vs Dec 22, seasonally adjusted annualized rates)
According to the US Census Bureau and the US Department of Housing and Urban Development, residential building permits grew 0.1% to a seasonally adjusted rate of 1,339,000 permits in January 2023. Permits for single unit structures were down 1.8% while those for structures with 2 to 4 units grew 26.1%. Permits for structures with 5 units or more were up 0.5%.
Compared to December 2022, US housing starts declined 4.5% to a seasonally adjusted rate of 1,309,000. Single dwelling unit starts increased 4.3% while starts for structures with 5 or more units were down 5.4%
Year over year (Jan 23 vs Jan 22, seasonally adjusted annualized rates)
Compared to January 2022, residential building permits declined by 27.3% driven by declines primarily in single dwelling units. Permits for single unit structures fell 40.0%. Permits for structures with 2 to 4 units were up 1.8% while permits for structures with 5 units or more declined 4.1%.
Compared to the same month in 2022, US housing starts declined 21.4% in January 2023. Starts for single unit structures decreased 27.3% and starts for structures with 5 or more units were down 8.4%.
Source: US Census Bureau New Residential Construction
US Census Bureau - retrieved from FRED, Federal Reserve Bank of St. Louis. Monthly data
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