Housing data

Housing starts in January totaled 1.366mm, below the estimate of 1.390mm and down from 1.515mm in December and vs 1.305mm in November and 1.344mm in October.

Single family starts fell back under one million at 993k from 1.084mm in the month before. Multi family starts were 373k vs 431k in December and 284k in November. They are much more volatile month to month relative to single family.

As for the forward looking permits, they were flat m/o/m with single family at 996k, no change from December. Multi family permits were 487k vs 486k in the prior month.