Realtor.com reports, "The numbers: Construction of new U.S. homes fell 14.8% in January as home builders scaled back new projects.
The pace of construction slowed as builders curtailed their activity amid wintry weather in the U.S. in January.
Housing starts fell to a 1.33 million annual pace from 1.56 million in December, the government said Friday. That’s how many houses would be built over an entire year if construction took place at the same rate every month as it did in January.
Housing starts fell to the lowest level since August 2023.
The drop in January was the sharpest since April 2020, during the coronavirus pandemic, when starts fell by nearly 27%. Not including that pandemic drop, housing starts fell by the most since 2015.
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