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March 19, 2019US HOUSING STARTS AND BUILDING PERMITS, JANUARY 2019 
US residential building permits declined 0.7 per cent in January compared to the revised December estimate, to a seasonally adjusted annual rate of 1,317,000. This is 3.6 per cent below the January 2018 estimate of 1,366,000. Year over year, permits for single unit structures declined 5.6 per cent and permits for structures with 2 to 4 units declined 2.2 per cent. Permits for structures with 5 or more units increased 0.2 per cent over January 2018.
US housing starts increased 18.6 per cent in January compared to the revised December estimate, to a seasonally adjusted annual rate of 1,230,000 units. This is 7.8 per cent below the January 2018 estimate of 1,334,000.
US housing starts are an important indicator for Nova Scotia's wood exports. Though not a perfect predictor, US housing starts and the value of Nova Scotia's wood exports follow similar directions over the long-term.
Source: US Census Bureau New Residential Construction
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