Housing starts dipped in December
Housing starts dropped from November to December in the US, but the Census Bureau reported that the amount of construction was still higher than during the same period in 2012.
Housing starts in the US fell by more than 9 percent from November to December. Although construction rates have increased from the levels reported during the last recession, they are still below those reported in 2005.
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Today’s New Residential Construction Report showed a notable declines to both total permit activity and total start activity with starts dropping 9.8% from November.
Single family housing permits, the most leading of indicators, declined 4.8% from November to 610K single family units (SAAR), and increased 4.5% above the level seen in December 2012 but still remained well below levels seen at the peak in September 2005.