Unusually cold weather and frigid temperatures from snowstorms slowed the construction of single-family housing units in January. Would-be homebuyers and households holding out to upgrade in the coming months could face even higher costs as tariffs for material imports and hostile mortgage rates put a housing rebound further on ice.
January Freeze Brings Halt to New Housing Starts
Adjusted data show that new housing starts were 8.4% lower in January 2025 compared to December’s revised 2024 figures and approximately 13% down from January 2024. New housing starts for the first month of the year dropped to 993,000 versus 1.08 million the month before. January rates for buildings of five or more units were 355,000.
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