Building Permits on Downside

 

Single-family authorizations in January were at a rate of 421,000; this is 4.8 percent below the revised December figure of 442,000. Authorizations of units in buildings with five units or more were at a rate of 125,000 in January.
Courtesy of Village of Riverside, Ill.

Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 562,000. This is 10.4 percent below the revised December rate of 627,000 and is 10.7 percent below the January 2010 estimate of 629,000. The housing market continues to be in a slump, slowing down economic recovery.

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