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IPFS News Link • Housing

Housing Starts Unexpected Dive 8.2%: Economists Blame the Weather

• https://www.themaven.net, Mike Mish Shedlock

The Census Department released its monthly New Residential Construction report for December this morning. Here are the pertinent details.

Housing Starts

Privately-owned housing starts in December were at a seasonally adjusted annual rate of 1,192,000. This is 8.2 percent percent below the revised November estimate of 1,299,000 and is 6.0 percent below the December 2016 rate of 1,268,000.

Single-family housing starts in December were at a rate of 836,000; this is 11.8 percent below the revised November figure of 948,000.

The December rate for units in buildings with five units or more was 352,000. An estimated 1,202,100 housing units were started in 2017. This is 2.4 percent above the 2016 figure of 1,173,800.


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