Housing starts decrease in December

Housing starts in December were at a seasonally adjusted annual rate of 1,382,000.  This is 1.4 % below the revised November estimate of 1,401,000 and is 21.8 % below the December 2021 rate of 1,768,000.

Housing starts were mixed across the country, increasing in the Northeast (5.0%) but decreasing in the West (-7.2%), Midwest (-5.7%) and the south (-1.6%).

New building permits in December were at a seasonally adjusted annual rate of 1,330,000.  This is 1.6 % below the revised November rate of 1,351,000 and is 29.9 % below the December 2021 rate of 1,896,000.  Single‐family authorizations in December were at a rate of 730,000; this is 6.5 % below the revised November figure of 781,000.

Housing completions in December were at a seasonally adjusted annual rate of 1,411,000.  This is 8.4 % below the revised November estimate of 1,540,000 but is 6.4 % above the December 2021 rate of 1,326,000.

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