US housing starts down 9.8% in January, marking 10-month low

By Mucahithan Avcioglu

ISTANBUL (AA) - US housing starts declined 9.8% in January from the previous month, marking a 10-month low, according to data released Wednesday.

The fall followed an upwardly revised 16.1% rise in the previous month.

Housing starts, which measure the change in the number of new residential buildings beginning construction, stood at 1.366 million, according to the Census Bureau and the Department of Housing and Urban Development.

Market estimates were at 1.39 million, while the upwardly revised December figure stood at 1.515 million.

Housing starts also fell 0.7% in January compared to the same month last year, when it stood at 1.376 million.

Building permits, a key indicator of market demand, rose 0.1% month-on-month to 1.483 million in January.

That figure managed to beat the market expectations of 1.46 million, following 1.482 million in December.

Meanwhile, on an annual basis, building permits were down 1.7% from the same month in 2024, when they stood at 1.508 million.