The U.S. Government is reporting that privately owned housing starts in December were at a seasonally adjusted annual rate of 1,192,000. This is 8.2% below the November’s estimate of 1,299,000 and is 6.0% lower than December 2016. Single-family housing starts in December were at a rate of 836k, which is 11.8% lower than November. December’s rate for units in buildings with five units or more was 352k. Overall for 2017, there were an estimated 1,202,100 housing units started which is 2.4% higher than 2016’s figure of 1,173,800.
Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,302,000. This is 0.1% below November’s revised rate of 1,303,000, but is 2.8% higher than December 2016. Single-family authorizations in December were at a rate of 881k; this is 1.8% above November’s revised figure of 865k. Authorizations of units in buildings with five units or more were at a rate of 382k. Overall for 2017, an estimated 1,263,400 housing units were authorized by building permits – which is 4.7%higher than 2016’s number.
Click here to read the full report on Census.gov.
