BCREA ECONOMICS NOW: US Housing Starts - February 20, 2013
BCREA ECONOMICS NOW
US Housing Starts - February 20, 2013
US housing starts declined in January from a nearly 5-year high in December, registering 890,000 units at a seasonally adjusted annual rate (SAAR). Building permit data, a proxy for future housing starts, rose to a 925,000 unit annual rate implying that the dip in new home construction last month will be temporary.
The strong recovery in US home construction in 2012 helped boost BC wood product exports by 8 per cent last year and should continue to be an important driver of BC export growth this year.
For more information, please contact:
Cameron Muir | Brendon Ogmundson |
Chief Economist | Economist |
Direct: 604.742.2780 | Direct: 604.742.2796 |
Mobile: 778.229.1884 | Mobile: 604.505.6793 |
Email: cmuir@bcrea.bc.ca | Email: bogmundson@bcrea.bc.ca |
BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).
Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.
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