Privately-owned housing starts in December were at a seasonally adjusted annual rate of 1,192,000, according to the U.S. Census Bureau. This is -8.2% below the revised November estimate of 1,299,000. Single-family housing starts in December were at a rate of 836,000, -11.8% below the revised November figure of 948,000.
Robert Dietz, NAHB chief economist said, “The December number fell off an exceptionally strong November reading, which was revised up to a 948,000 annual rate. Single-family starts posted strong October and November totals due to bounce-back effects related to prior delays in construction in areas of the country affected by hurricanes and other natural events. Despite the December drop, the three-month moving average for single-family starts reached a post-recession high rate (890,000).”
