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February 17, 2017

Home building down as developers start fewer apartments

  • But building permits, a gauge of future construction, rose 4.6 percent.
    • By CHRISTOPHER S. RUGABER
    AP Economics Writer

    WASHINGTON — U.S. builders broke ground on fewer homes last month, led by a drop in apartment construction.

    The number of new housing starts declined 2.6 percent in January to a seasonally adjusted annual rate of 1.25 million, the Commerce Department said Thursday. The drop came after a much larger gain the previous month. Single-family housing starts rose 1.9 percent, while apartment building dropped 7.9 percent.


     
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