Seeking Alpha
Analyst, REITs
Profile| Send Message| ()  

Today's New Residential Construction Report showed mixed results for January, with increases for single-family permits and starts, but a notable 8.5% monthly decline for total starts.

Single-family housing permits, the most leading of indicators, rose 1.9% from December to 584K single-family units. They increased 29.2% above the level seen in January 2012, but still remained an astonishing 67.52% below the peak in September 2005.

Single-family housing starts increased 0.8% from December to 613K units, and rose 20.0% above the level seen in January 2012. But they still remained 66.37% below the peak set in early 2006.


Source: New Residential Construction Report: January 2013