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Posted January 18, 2018

U.S. housing starts slide 8.2 percent in December

Starts slide and permits coast but completions climb for month. 


Thanks in part to a cantankerous mother nature, the housing market took a hit in December, with privately owned housing starts sliding 8.2 percent compared to the previous month.  

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development
jointly announced the following new residential construction statistics for December 2017:

Building Permits
Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,302,000. This is 0.1 percent (±1.4 percent)* below the revised November rate of 1,303,000, but is 2.8 percent (±1.9 percent) above the December 2016 rate of 1,266,000.

Single-family authorizations in December were at a rate of 881,000; this is 1.8 percent (±1.2 percent) above the revised November figure of 865,000. Authorizations of units in buildings with five units or more were at a rate of 382,000 in December.

An estimated 1,263,400 housing units were authorized by building permits in 2017. This is 4.7 percent (±0.6%) above the 2016 figure of 1,206,600.

Housing Starts
Privately-owned housing starts in December were at a seasonally adjusted annual rate of 1,192,000. This is 8.2 percent (±7.7 percent) below the revised November estimate of 1,299,000 and is 6.0 percent (±11.7 percent)* below the December 2016 rate of 1,268,000.

Single-family housing starts in December were at a rate of 836,000; this is 11.8 percent (±6.5 percent) below the revised November figure of 948,000. The December rate for units in buildings with five units or more was 352,000.

An estimated 1,202,100 housing units were started in 2017. This is 2.4 percent (±2.3%) above the 2016 figure of 1,173,800.

Housing Completions
Privately-owned housing completions in December were at a seasonally adjusted annual rate of 1,177,000. This is 2.2 percent (±17.8 percent)* above the revised November estimate of 1,152,000 and is 7.4 percent (±13.0 percent)* above the December 2016 rate of 1,096,000.

Single-family housing completions in December were at a rate of 818,000; this is 4.3 percent (±20.5 percent)* above the revised November rate of 784,000. The December rate for units in buildings with five units or more was 346,000.

An estimated 1,152,300 housing units were completed in 2017. This is 8.7 percent (±3.1%) above the 2016 figure of 1,059,700.

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