Regionally in January 2020, combined single- and multi-family housing production increased 31.9% in the Northeast and 1.2% in the West.
Total housing starts decreased 3.6% in January from an upwardly revised December reading to a seasonally adjusted annual rate of 1.57 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department. Meanwhile, overall permits surged to a 13-year high.
The January reading of 1.57 million starts is the number of housing units builders would begin if they kept this pace for the next 12 months. Within this overall number, single-family starts decreased 5.9% to a 1.01 million seasonally adjusted annual rate. The multi-family sector, which includes apartment buildings and condos, increased 0.7% to a 557,000 pace.