After hitting a five-year high in November, new residential construction has since stalled, joining a number of other economic indicators that have slowed due to the severe winter weather affecting much of the country. According to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development, single-family housing starts fell 15.9 percent in January. Building permits for future construction also slipped during the month, dropping 1.3 percent from the revised December estimate. The declines were largely expected and credited to a particularly harsh winter. For example, new home construction was down 67.7 percent in the Midwest, where record snow and frigid temperatures disrupted groundbreakings. Year-over-year, building permits were up 2.4 percent over last year, while housing starts came in 2 percent below year-before levels. More here.