November 17, 2024 10:26 am
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Residential construction down but close to consensus

Residential construction

Residential constructionStarts were off in the Western region by 7.6 percent and 14.7 percent for the two earlier periods

By Jann Swanson | Mortgage News Daily

Both housing starts and residential construction permits declined in December compared to November. A joint release from the U.S. Census Bureau and the Department of Housing and Urban Development shows that housing starts were at a seasonally adjusted annual rate of 1,149,000, a 2.5 percent month-over month decline. The latest figure is 6.4 percent higher than that of a year earlier, 1,080,000. The release revised the original estimate for November 2015 to 1,179,000 units from the originally reported 1,173,000.

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