EconoIndicators / New Residential Construction (Housing Starts)

New Residential Construction (Housing Starts) - December 2007

Housing Starts At a Glance
Seasonally Adjusted

Housing Starts: 1,006,000
Monthly Change: Down 14.2%
Year-to-year Change: Down 38.2%
1-Family Monthly Change: Down 2.9%
Housing Completions: 1,302,000
Monthly Change: Down 7.7%
Year-to-year Change: Down 31%
1-Family Monthly Change: Down 12%
Building Permits: 1,068,000
Monthly Change: Down 8.1%
Year-to-year Change: Down 34.4%
1-Family Monthly Change: Down 10.1%

Technorati Tags: housing, starts, new, residential, construction

NEW RESIDENTIAL CONSTRUCTION IN DECEMBER 2007
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential
construction statistics for December 2007:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,068,000.
This is 8.1 percent (±1.7%) below the revised November rate of 1,162,000 and is 34.4 percent (±2.2%) below the revised December
2006 estimate of 1,628,000.
Single-family authorizations in December were at a rate of 692,000; this is 10.1 percent (±1.6%) below the November figure of
770,000. Authorizations of units in buildings with five units or more were at a rate of 322,000 in December.
An estimated 1,376,100 housing units were authorized by building permits in 2007. This is 25.3 percent (±0.8%) below
the 2006 figure of 1,838,900.
HOUSING STARTS
Privately-owned housing starts in December were at a seasonally adjusted annual rate of 1,006,000. This is 14.2 percent (±8.3%) below
the revised November estimate of 1,173,000 and is 38.2 percent (±4.9%) below the revised December 2006 rate of 1,629,000.
Single-family housing starts in December were at a rate of 794,000; this is 2.9 percent (±8.7)* below the November figure of 818,000.
The December rate for units in buildings with five units or more was 196,000.
An estimated 1,353,700 housing units were started in 2007. This is 24.8 percent (±1.3%) below the 2006 figure of
1,800,900.
HOUSING COMPLETIONS
Privately-owned housing completions in December were at a seasonally adjusted annual rate of 1,302,000. This is 7.7 percent
(±10.3%)* below the revised November estimate of 1,411,000 and is 31.0 percent (±5.8%) below the revised December 2006 rate of
1,887,000.
Single-family housing completions in December were at a rate of 1,009,000; this is 12.0 percent (±10.5%) below the November figure
of 1,146,000. The December rate for units in buildings with five units or more was 278,000.
An estimated 1,500,200 housing units were completed in 2007. This is 24.2 percent (±1.7%) below the 2006 figure of
1,979,400.