US Housing Starts Fall in Broad Pullback After December Surge
This article is for subscribers only.
US housing starts slowed in January as builders pulled back on single- and multifamily home construction amid growing worries over mortgage rates and unsold homes.
New residential construction decreased 9.8% to an annualized pace of 1.37 million last month, slipping after a nearly 16% surge in December, according to government data released Wednesday. That trailed the median estimate of economists surveyed by Bloomberg, who expected an annualized 1.39 million pace.