U.S. Housing Starts Falls in January

Housing starts in the United States decreased by 6% to a seasonally adjusted annual rate of 1.58 million units in January, data by the U.S. Department of Commerce showed on Thursday.

Housing starts declined by 2.3% on an annual basis, as softwood lumber prices surged by a record 73% last month, Reuters reported.

Meanwhile, building permits rose by 10.4% to a rate of 1.881 million units.