Wednesday, October 22nd9.2°C
23711
22952

US housing construction drops 16 per cent in January with much of weakness weather related

WASHINGTON - U.S. home construction fell in January for a second month but the weakness in both months reflected severe winter weather in many parts of the country. The expectation is that housing will deliver another year of solid gains, helped by an improving economy.

The Commerce Department says builders started work at a seasonally adjusted annual rate of 880,000, down 16 per cent from December. In December, construction had fallen 4.8 per cent. The declines in both months were blamed largely on the weather.

Applications for building permits fell in January for a third month, dropping 5.4 per cent to a rate of 937,000.

For all of 2013, housing construction rose 17.7 per cent to 976,000 units, the best showing since 2007. Analysts expect further gains this year as stronger job growth boosts demand.

The Canadian Press


Read more Business News

22831


Recent Trending




Today's Market
S&P TSX14312.07-235.64
S&P CDNX808.00-14.28
DJIA16461.32-153.49
Nasdaq4382.847-36.632
S&P 5001927.11-14.17
CDN Dollar0.8886-0.0009
Gold1243.30-2.20
Oil80.06-0.07
Lumber330.40+1.70
Natural Gas3.657-0.002

 
Okanagan Companies
Pacific Safety0.12+0.02
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.055-0.025
Anavex Life Sciences0.198+0.006
Metalex Ventures0.05+0.005
Russel Metals32.53-0.56
Copper Mountain Mining2.10-0.07
Colorado Resources0.145-0.005
ReliaBrand Inc0.013+0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.405-0.055

 



22625

FEATURED Property
20789291403-1160 Sunset
2 bedrooms 2 baths
$1,288,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...


Experts share strategies in Kelowna

The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...

_








Member of BC Press Council


22771