While the number of building permits issued for new single family homes during January 2015 in the Midwest was down 4.8 percent from January 2014, builders were busy starting construction on new homes at a pace that was 73.6 percent higher than the year before, according to the latest data from the U.S. Census Bureau.
Other highlights from the report for January 2015 for the midwest region of the U.S.:
- Permits for new single family homes were issued at the seasonally adjusted annual rate of 99,000 units, down 2.0% from December and down 4.8% from January 2014.
- Construction commenced on new homes at the seasonally adjusted annual rate of 92,000 units, a decrease of 30.8% from December but an increase of 73.6% from January 2014.
- New homes in the Midwest were completed in January at the seasonally adjusted annual rate of 103,000 homes, down 2.8% from the month before and down 12.0% from a year ago.
