Housing starts up for second month
 

WASHINGTON – Jan. 18, 2007 – Home starts are up for December, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), while builders are more optimistic about the future, according to the National Association of Home Builders (NAHB) in yet another sign that the slow housing market may have turned a corner.

Housing starts

Privately-owned housing starts in December were at a seasonally adjusted annual rate of 1,642,000 – 4.5 percent above the revised November estimate of 1,572,000 but 18.0 percent below the December 2005 rate of 2,002,000. 

Single-family housing starts in December were at a rate of 1,230,000, or 4.1 percent below the November figure of 1,282,000. The December rate for units in buildings with five units or more was 350,000. An estimated 1,800,700 housing units were started in 2006 – 12.9 percent below the 2005 figure of 2,068,300.

Building permits

Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,596,000 – 5.5 percent above the revised November rate of 1,513,000 but 24.3 percent below the December 2005 estimate of 2,107,000. Single-family authorizations in December were at a rate of 1,164,000 – 1.2 percent above the November figure of 1,150,000. 

Authorizations of units in buildings with five units or more were at a rate of 353,000 in December. An estimated 1,833,500 housing units were authorized by building permits in 2006, 14.9 percent below the 2005 figure of 2,155,300.
 

© 2007 FLORIDA ASSOCIATION OF REALTORS®

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