HUD and Census Bureau Announce New Residential Construction Activity in December

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for December 2015:

BUILDING PERMITS

Privately owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,232,000. This is 3.9 percent (±2.2%) below the revised November rate of 1,282,000, and is 14.4 percent (±1.2%) above the December 2014 estimate of 1,077,000. Single-family authorizations in December were at a rate of 740,000; this is 1.8 percent (±2.2%) above the revised November figure of 727,000. Authorizations of units in buildings with five units or more were at a rate of 455,000 in December.

HOUSING STARTS

Privately owned housing starts in December were at a seasonally adjusted annual rate of 1,149,000. This is 2.5 percent (±8.6%) below the revised November estimate of 1,179,000 and is 6.4 percent (±12.2%) above the December 2014 rate of 1,080,000. Single-family housing starts in December were at a rate of 768,000; this is 3.3 percent (±8.5%)* below the revised November figure of 794,000. The December rate for units in buildings with five units or more was 365,000.

HOUSING COMPLETIONS

Privately owned housing completions in December were at a seasonally adjusted annual rate of 1,013,000. This is 5.6 percent (±10.5%)* above the revised November estimate of 959,000 and is 7.9 percent (±11.6%)* above the December 2014 rate of 939,000. Single-family housing completions in December were at a rate of 696,000; this is 8.8 percent (±12.2%)* above the revised November rate of 640,000. The December rate for units in buildings with five units or more was 307,000.

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