Housing starts increased to a seasonally adjusted annual rate of 1.669 million in December, according to the U.S. Census Bureau. The increase was 5.8% above the revised November estimate of 1.635 million and is 5.2% above the December 2019 rate of 1.475 million. Single-family home starts increased 12.0% from last month.
Housing starts were mixed across the country, falling in the Northeast (7.2%) but rising in the West (11.2%), South (1.3%) and Midwest (13.6%).
New building permits were 1.709 million in December, 4.5% higher from the previous month and 17.3% higher year-over-year. Single-family building permits increased 7.8% from the revised November figure.
Housing completions were at a seasonally adjusted annual rate of 1.417 million, up 15.9% from the revised November estimate and 8.0% above the December 2019 rate.
Read the Census release.
