Jan. Housing Starts 1065K vs 1070K Expected, -2% MoM

Jan. Housing Starts 1065K vs 1070K Expected, -2% MoM

UPDATE - More from the U.S. Department of Housing and Urban Development:

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for January 2015:

BUILDING PERMITS

Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,053,000. This is 0.7 percent (±0.6%) below the revised December rate of 1,060,000, but is 8.1 percent (±2.0%) above the January 2014 estimate of 974,000.

Single-family authorizations in January were at a rate of 654,000; this is 3.1 percent (±0.9%) below the revised December figure of 675,000. Authorizations of units in buildings with five units or more were at a rate of 372,000 in January.

HOUSING STARTS

Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,065,000. This is 2.0 percent (±10.4%)* below the revised December estimate of 1,087,000, but is 18.7 percent (±14.5%) above the January 2014 rate of 897,000.

Single-family housing starts in January were at a rate of 678,000; this is 6.7 percent (±10.6%)* below the revised December figure of 727,000. The January rate for units in buildings with five units or more was 381,000.

HOUSING COMPLETIONS

Privately-owned housing completions in January were at a seasonally adjusted annual rate of 930,000. This is 1.3 percent (±7.4%)* above the revised December estimate of 918,000 and is 9.4 percent (±10.4%)* above the January 2014 rate of 850,000.

Single-family housing completions in January were at a rate of 649,000; this is 2.3 percent (±7.0%)* below the revised December rate of 664,000. The January rate for units in buildings with five units or more was 274,000.

Following results, traders are watching:

D.R. Horton, Inc. (NYSE: DHI)
Pulte Group (NYSE: PHM)
KB Home (NYSE: KBH)
Lennar Corp. Cl A (NYSE: LEN)
Hovnanian Enterprises Inc. Cl A (NYSE: HOV)
Standard Pacific Corp. (NYSE: SPF)
Toll Brothers, Inc. (NYSE: TOL)
Ryland Group, Inc. (NYSE: RYL)
Meritage Homes Corp. (NYSE: MTH)
Beazer Homes USA, Inc. (NYSE: BZH)
SPDR S&P Homebuilders ETF (NYSE: XHB)

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