Illustration 60886103 / Kheng Ho To / Dreamstime
Illustration 60886103 Kheng Ho To / Dreamstime
60886103 / Kheng Ho To / Dreamstime
60886103 / Kheng Ho To

New Privately Owned Housing Units Started

Jan. 24, 2014
(Thousands of units, seasonally adjusted annual rate)

The U.S. Census Bureau said privately-owned housing starts in December were at a seasonally adjusted annual rate of 999,000, 9.8% below the revised November estimate of 1,107,000, but 1.6% above the December 2012 rate of 983,000.

Single-family housing starts in December were at a rate of 667,000, 7% below the revised November figure of 717,000. An estimated 923,400 housing units were started in 2013. This is 18.3% above the 2012 figure of 780,600.

“As pent-up demand is unlocked and the labor market improves, we anticipate that 2014 should be an even better year for home construction,” said David Crowe, chief economist for the National Association of Home Builders (NAHB), Washington, D.C.