Housing Starts Fell 10.9% YOY in December

Washington, DC, February 26, 2019-Privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,078,000, according to the U.S. Census Bureau, 11.2% below the revised November estimate of 1,214,000 and 10.9% below the December 2017 rate of 1,210,000.

Single‐family housing starts in December were at a rate of 758,000; this is 6.7% below the revised November figure of 812,000. The December rate for units in buildings with five units or more was 302,000.

An estimated 1,246,600 housing units were started in 2018. This is 3.6% above the 2017 figure of 1,203,000.

Privately‐owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,326,000. This is 0.3% above the revised November rate of 1,322,000 and is 0.5% above the December 2017 rate of 1,320,000. Single‐family authorizations in December were at a rate of 829,000; this is 2.2% below the revised November figure of 848,000. Authorizations of units in buildings with five units or more were at a rate of 460,000 in December.

An estimated 1,310,700 housing units were authorized by building permits in 2018. This is 2.2% above the 2017 figure of 1,282,000.