Housing Starts in the U.S rose 1.5 percent to an seasonally annual pace of 699 thousand units in January, from a revised estimate of -1.5 percent or 689 thousand annual pace in the prior month and down from median estimates of 2.7 percent.

building permits rose 0.7 percent to an annual pace of 676 thousand units last month, after falling 1.3 percent in the prior month and also below median estimates of 1.3 percent.