Housing starts rise in December 2016

Housing starts rose 11.3 percent from November 2016 to December 2016, according to the U.S. Census Bureau. Construction increased to a seasonally adjusted annual rate of 1.226 million, compared with a revised estimate of 1.102 million in November 2016.

Single-family housing starts fell 4 percent. Building permit applications, which are viewed as a barometer of future construction, decreased 0.2 percent in December 2016 to 1.21 million.

Housing starts are far above the annual rate of 478,000 in April 2009, which was the recession low, and they were 5.7 percent higher in December 2016 than in December 2015. A 1.5 million annual rate still is needed to be considered healthy.

Date : 1/19/2017