Housing starts jump 12.1% in December
January 17, 2013
Housing starts in December were at a seasonally adjusted annual rate of 954,000 — 12.1% above the revised November estimate of 851,000 and 36.9% above the December 2011 rate. That’s the highest level since June 2008. Meanwhile, permits authorized for future residential construction were at a seasonally adjusted annual rate of 903,000 — 0.3% above the revised November rate and 28.8% above December 2011. Permits are at their highest level since July 2008.
For 2012, housing starts totaled an estimated 780,000 — 28.1% above 2011. Permits totaled an estimated 813,400, up 30.3%.
Housing starts were up in all regions, led by a 24.7% increase in the Midwest and followed closely by 21.4% in the Northeast. Starts were up 18.7% in the West, and 3.8% in the South.
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