New Housing Starts Climb 12.1 Percent in december
Privately owned starts surge 36.9 percent for month over December 2011, making 2012 the market's best year since 2008.
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for December 2012:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 903,000. This is 0.3 percent (±1.0%)* above the revised November rate of 900,000 and is 28.8 percent (±1.4%) above the December 2011 estimate of 701,000.
Single-family authorizations in December were at a rate of 578,000; this is 1.8 percent (±1.0%) above the revised November figure of 568,000.
Authorizations of units in buildings with five units or more were at a rate of 301,000 in December.
An estimated 813,400 housing units were authorized by building permits in 2012. This is 30.3 percent (±1.1%) above the 2011 figure of 624,100.
HOUSING STARTS
Privately-owned housing starts in December were at a seasonally adjusted annual rate of 954,000. This is 12.1 percent (±13.4%)* above the revised November estimate of 851,000 and is 36.9 percent (±22.0%) above the December 2011 rate of 697,000.
Single-family housing starts in December were at a rate of 616,000; this is 8.1 percent (±9.7%)* above the revised November figure of 570,000. The December rate for units in buildings with five units or more was 330,000.
An estimated 780,000 housing units were started in 2012. This is 28.1 percent (±2.6%) above the 2011 figure of 608,800.
HOUSING COMPLETIONS
Privately-owned housing completions in December were at a seasonally adjusted annual rate of 686,000. This is 1.6 percent (±14.7%)* above the revised November estimate of 675,000 and is 13.2 percent (±13.4%)* above the December 2011 rate of 606,000.
Single-family housing completions in December were at a rate of 535,000; this is 3.7 percent (±12.3%)* above the revised November rate of 516,000.
The December rate for units in buildings with five units or more was 144,000.
An estimated 651,400 housing units were completed in 2012. This is 11.4 percent (±4.6%) above the 2011 figure of 584,900.
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