Wednesday, February 17, 2010

Housing Starts Increase 2.8%

From the Census:

Privately-owned housing starts in January were at a seasonally adjusted annual rate of 591,000. This is 2.8 percent (±11.5%)* above the revised December estimate of 575,000 and is 21.1 percent (±12.3%) above the January 2009 rate of 488,000.

Let's go to a chart of the data:

I think the real statement about housing starts is they have stabilized at low levels.