January housing starts of 880K were 16% below those in December, the largest sequential decline since February 2011, and are 2% below the January 2013 rate of 898K. Single family starts of 573K were 15.9% below December
Building permits of 937K were 5.4% below December and 2.4% above one year ago. Single family permits 602K were 1.3% below December.
Look for the rough winter weather to be bandied about plenty as an excuse, but feeling its oats after the bad print, Zerohedge notes permits crashed 26% in the West ... "that's where the snow must have been the strongest."