A mixed January for residential construction

Residential construction permits rose in January, but total residential construction starts declined, according to the New Residential Construction Report.

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    Single family housing permits rose 1.9 percent from December 2012.
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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 (SAAR), and 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 (SAAR), and rose 20.0% above the level seen in January 2012 but still remained 66.37% below the peak set in early 2006. 

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