B of A released its monthly housing starts report.

California housing starts remained strong in January at 248,400 units, marking the 13th consecutive month that annualized housing starts have exceeded 220,000 units, according to the Bank of America report. For single-family and two- to four-unit projects, January starts gained 13.3% and 32%, respectively, over December levels. However, starts in five-plus unit projects showed a 17.6% decline. The number of units authorized by building permits in January rose 14.3% over December, 1985, for a seasonally adjusted annualized total of 284,900.