Housing starts in December increased to a seasonally adjusted annual rate of 1.499 million, according to the U.S. Department of Commerce. This is 15.8% above the revised November estimate of 1.294 million but is 4.4% below the December 2023 rate of 1.568 million. Single-family housing grew to a rate of 1,050,000, 3.3% above the revised November figure of 1,016,000.
New building permits in December decreased to a seasonally adjusted annual rate of 1.483 million, according to the U.S. Department of Commerce. This is 0.7% below the revised November rate of 1.493 million and is 3.1% below the December 2023 rate of 1.530 million. Single-family housing grew to a rate of 992,000, 1.6% above the revised November figure of 976,000.
Housing completions were at a seasonally adjusted annual rate of 1.544 million, 4.8% below the revised November estimate of 1.621 million and is 0.8% above the December 2023 rate of 1.557 million.
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