MHProNews has learned from investors that single-family housing starts dropped -3.9 percent in January to a seasonally adjusted annual rate (SAAR) of 731,000, but up +3.5 percent from last January. Multi-family starts dropped -2.5 percent on the month but slipped -3.8 percent for the year.

Despite housing starts being down, housing completions increased to an annualized 1.057 million, the highest rate since Nov. 2008.

Building permits rose +13.5 percent from a year ago January, although single-family permits nudged down -1.6 percent in January, but were 9.6 percent above January, 2015.

In addition, the Mortgage Bankers Association (MBA) reports mortgage applications rose +8.2 percent in the week ending February 12 following a strong showing of +9.3 percent in the previous week.

Meanwhile, the National Association of Home Builders (NAHB) reports home builder confidence for new single-family homes dropped three points to 58. The index has been at 60 or above since June, and in positive territory since the middle of 2014. ##

(Image credit:theatlanticcities–home planning)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.