NEW YORK (CNNMoney) -- New home construction got off to a strong start for the year, with housing starts and building permits rising in January on a monthly and annual basis -- another sign that the U.S. housing market and broader economy are headed in the right direction. The Census Bureau reported that housing starts rose to an annual rate of 699,000, up 1.5% from December. Compared to a year ago, housing starts were almost 10% higher.
Building permits, which are less affected by weather than starts, came in at a 676,000 annual rate in January, up 0.7% from the prior month and 19% from a year earlier. Results were also better than industry expectations. A consensus of industry experts from Briefing.com had forecast starts of 671,000 and permits of 675,000.
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Please call or e-mail Melissa today whether you're a first-time home buyer, investor, or looking to sell your home at (509) 879-7858 or melissadailey@comcast.net.
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