December Housing Starts Down 4.1%

Posted by Orb Staff on January 19, 2012 No Comments
Categories : Residential Mortgage

10750_homebuilder1 December Housing Starts Down 4.1% Privately owned housing starts in December 2011 were at a seasonally adjusted annual rate of 657,000, which is 4.1% below the revised November estimate of 685,000 and 24.9% above the December 2010 rate of 526,000, according to new data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Single-family housing starts in December were at a rate of 470,000, which is 4.4% above the revised November figure of 450,000. The December rate for units in buildings with five units or more was 164,000.

An estimated 606,900 housing units were started in 2011. This is 3.4% above the 2010 figure of 586,900.

Privately owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 679,000, which is 0.1% below the revised November rate of 680,000 and 7.8% above the December 2010 estimate of 630,000.

Single-family authorizations in December were at a rate of 444,000, which is 1.8% above the revised November figure of 436,000. Authorizations of units in buildings with five units or more were at a rate of 209,000 in December.

An estimated 611,900 housing units were authorized by building permits in 2011. This is 1.2% above the 2010 figure of 604,600.

Privately owned housing completions in December were at a seasonally adjusted annual rate of 605,000 – 9.2% above the revised November estimate of 554,000 and 7.1% above the December 2010 rate of 565,000. Single-family housing completions in December were at a rate of 448,000 – 0.9% below the revised November rate of 452,000. The December rate for units in buildings with five units or more was 147,000.

An estimated 583,900 housing units were completed in 2011. This is 10.4% below the 2010 figure of 651,700.

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