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February 18, 2021US HOUSING STARTS AND BUILDING PERMITS, JANUARY 2021 The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced today the new residential construction statistics for January 2021.
BUILDING PERMITS
US residential building permits increased 10.4% from the revised December 2020 rate of 1,704,000 permits to a seasonally adjusted rate of 1,881,000 permits in January 2021. This was 22.5% above the January 2020 estimate of 1,536,000 units.
Compared to January 2020, permits increased across all unit types. Permits for single units were up 29.9% from a year earlier while permits for structures with 2 to 4 units increased 27.9%. Permits for structure with 5 units or more were up 7.9% year-over-year.
HOUSING STARTS
In January 2021, US housing starts declined 6.0% compared to the revised December 2020 estimate, to a seasonally adjusted annualized rate of 1,580,000 structures. This was 2.3% below the January 2020 rate of 1,617,000 units.
Year-over-year (Jan 2021 vs Jan 2020), housing starts for single units were up 17.5% while starts for structures with 5 or more units decreased 35.1%.
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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