Wednesday, August 5th11.0°C
27107

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

24947


Recent Trending




Today's Market
S&P TSX14491.05+22.32
S&P CDNX589.88-4.43
DJIA17550.69-47.51
Nasdaq5105.55-9.84
S&P 5002093.32-4.72
CDN Dollar0.7594+0.0012
Gold1090.10-0.60
Oil46.39+0.26
Lumber258.60-0.10
Natural Gas2.865+0.024

 
Okanagan Companies
Pacific Safety0.17-0.01
Knighthawk0.010.00
QHR Technologies Inc1.40-0.02
Cantex0.04+0.00
Anavex Life Sciences1.46+0.33
Metalex Ventures0.05+0.00
Russel Metals19.39-0.01
Copper Mountain Mining0.80+0.01
Colorado Resources0.085+0.020
ReliaBrand Inc0.0049+0.0004
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.08-0.02
Decisive Dividend Corp2.55+0.05

 



24947

FEATURED Property
2381680Duplex near Gordon/Bernard area
$689,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Mortgage policy changes?

There are rumours circulating again that the federal government may move to tighten mortgage insurance criteria. This is prompted by a recent article in the Financial Post. The housing market while b...


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...

_








Member of BC Press Council


26916