December Housing Starts Jumped 40.8% YOY

Washington, DC, January 17, 2020-Privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,608,000, 16.9% above the revised November estimate of 1,375,000 and 40.8% above the December 2018 rate of 1,142,000, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced.

Single‐family housing starts in December were at a rate of 1,055,000; this is 11.2% above the revised November figure of 949,000. The December rate for units in buildings with five units or more was 536,000.

An estimated 1,289,800 housing units were started in 2019. This is 3.2% above the 2018 figure of 1,249,900.

Privately‐owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,416,000. This is 3.9% below the revised November rate of 1,474,000, but is 5.8% above the December 2018 rate of 1,339,000. Single‐family authorizations in December were at a rate of 916,000; this is 0.5% below the revised November figure of 921,000. Authorizations of units in buildings with five units or more were at a rate of 458,000 in December.

An estimated 1,368,800 housing units were authorized by building permits in 2019. This is 3.9% above the 2018 figure of 1,317,900.

Privately‐owned housing completions in December were at a seasonally adjusted annual rate of 1,277,000. This is 5.1% above the revised November estimate of 1,215,000 and is 19.6% above the December 2018 rate of 1,068,000. Single‐family housing completions in December were at a rate of 912,000; this is 0.7% above the revised November rate of 906,000. The December rate for units in buildings with five units or more was 357,000.

An estimated 1,250,600 housing units were completed in 2019. This is 5.6% above the 2018 figure of 1,184,900.