Housing Starts Stall in December

Jan 18, 2018

The latest housing data show a market experiencing a winter slowdown

Single-family housing starts in December were at a rate of 836,000, according to new data from the U.S. Census Bureau and Department of Housing and Urban Development. Last month’s figure was 11.8 percent below the revised November figure of 948,000. Privately-owned housing starts in December were at a seasonally adjusted annual rate of 1,192,000, down 8.2 percent from the revised November estimate of 1,299,000 and is 6 percent under the December 2016 rate of 1,268,000.

Single-family authorizations in December were at a rate of 881,000, which was 1.8 percent above the revised November figure of 865,000. Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,302,000, a scant 0.1 percent below the revised November rate of 1,303,000 and 2.8 percent higher than the December 2016 rate of 1,266,000.

Single-family housing completions in December were at a rate of 818,000, a 4.3 percent increase from the revised November rate of 784,000. Privately-owned housing completions in December were at a seasonally adjusted annual rate of 1,177,000, a 2.2 percent rise from the revised November estimate of 1,152,000 and a 7.4 percent increase from the December 2016 rate of 1,096,000.

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Phil Hall

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Jan 18, 2018

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