Housing starts show small increase but remain at very depressed levels   

January housing starts totaled 596 thousand (seasonally adjusted annual rate), up from 520 thousand in December. Housing starts remain far below the average of just over 1.5 million per year over the last 40+ years, and even farther below the 2.2 million peak of the most recent housing boom. Total starts have been under 1 million (SAAR) for 31 straight months, averaging only 608k during this stretch. The all-time low was 477 thousand in April 2009. Single-unit structure starts were only 413 thousand in December, the lowest level since May 2009. Since 1968, the U.S. population has grown from 200 million to over 300 million. Low housing starts not only impact transportation demand for building products but also for appliances, furniture, and other related items. The vertical bars represent recessions.