Housing Data a Mixed Bag for Builders

Updated from 9:45 a.m. EST

New housing starts and building permits in January plunged from last year but inched up from December, as economists expected, signaling that the unraveling of the U.S. housing market continues to slow economic growth.

Housing starts totaled an annual rate of 1.012 million in the month, down 27.9% from a year earlier, but up 0.8% from December. Economists anticipated a pace of 1.015 million starts.

Residential building permits, an indicator of future demand, totaled an annual rate of 1.048 million, down 33.1% from a year earlier and down 3% from December. Economists projected a rate of 1.04 million permits. ...