Image: File photo of the framework for a single family home currently under construction in Los Angeles
Fred Prouser  /  Reuters
The framework for a single family home currently under construction is seen in Los Angeles, California in this October 18, 2011 file photo.
By
updated 2/16/2012 9:00:24 AM ET 2012-02-16T14:00:24

Construction of single-family homes cooled off slightly in January after surging in the final month last year. But a rebound in volatile apartment construction kept builders working.

The Commerce Department says builders broke ground on a seasonally adjusted annual rate of 699,000 homes in January.

Construction began on 508,000 single-family homes last month, a 1 percent drop from December and the first decline in four months. Still, December single-family homes were revised up strongly to show builders started 513,000 homes. That's up from the initial estimate of 470,000, a difference of 9 percent.

Apartment building, a more volatile category, jumped 14.4 percent. Building permits, a gauge of future construction, rose 0.7 percent.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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