The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly reported that total housing starts declined 8.5 percent from December to January. The decline was precipitated by a sharp drop in multifamily starts following a sharp rise the prior month.
Single-family starts increased nearly 1 percent on a monthly basis.
Total starts increased 23.6 percent on a year-over-year basis while single-family starts increased 20 percent.
