Privately-owned housing starts in December were at a seasonally adjusted annual rate of 1,608,000, +16.9% above the revised November estimate of 1,375,000 and +40.8% above the December 2018 rate of 1,142,000. The U.S. Census Bureau said single-family housing starts in December were at a rate of 1,055,000, +11.2% above the revised November figure of 949,000. An estimated 1,289,800 housing units were started in 2019, +3.2% above the 2018 figure of 1,249,900.
“The year ended on a high note with solid gains in single-family and multi-family production,” said Danushka Nanayakkara-Skillington, NAHB’s assistant VP of forecasting and analysis. “And while the December estimates will likely be revised down, the trend moving forward is still positive.”
