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United States Of America – Building permits in the United States increased 0.3 percent from a month earlier to a seasonally adjusted annual rate of 1.76 million in January of 2022, from the previous month’s 1.755 million and below market expectations of 1.77 million.
Single-family authorizations jumped 6.8 percent to a rate of 1,205 thousand while those for buildings with five units or more dropped 8.8 percent to a rate of 629 thousand.
Permits increased significantly in the West (13.9 percent to 475 thousand) and the South (11.4 percent to 1,004 thousand) (11.4 percent to 1,004 thousand). On the other hand, permits fell in the Northeast (-48.3 percent to 155 thousand and in the Midwest (-0.7percent to 265 thousand) (-0.7percent to 265 thousand).
Housing Starts or Construction of new homes in the United States fell 4.1 percent in January 2022, to a seasonally adjusted annual rate of 1.638 million units. This was well below forecasts of 1.7 million units and the lowest rate in three months.
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Starts for single-family homes fell by 5.6 percent to 1.116 million, while those for multi-family buildings with five or more units fell by 2.1 percent to 0.51 million, according to the Census Bureau.
Starts fell by 37.7 percent in the Midwest and by 2 percent in the South, but they rose by 2.6 percent in the Northeast and by 17.7 percent in the West, according to the Census Bureau.
Housing starts in the United States fell to -4.10 percent in January from 1.40 percent in December of 2021, according to the Bureau of Labor Statistics.
From a peak of 9.80 percent in December 2021, the month-over-month growth rate of building permits in the United States fell to 0.70 percent in January 2022.
