Housing Starts and Permits Up in December and Year-Over-Year

The U.S. Census Bureau has reported that privately‐owned housing starts in December were at a seasonally adjusted annual rate (SAAR) of 1,669.000. This is 5.8% above the revised November estimate of 1,578,000 and is 5.2% above the December 2019 rate. Single-family housing starts in December were at a rate of 1,338,000; and this is 12.0% above the revised November figure. The December rate for units in buildings with five units or more was 312,000. An estimated 1,380,300 housing units were started in 2020. This is 7.0% above the 2019 figure of 1,290,000. Building Permits are the forward-looking portion of the report and in December privately-owned housing units authorized by building permits were at a SAAR of 1,709,000. This is 4.5% above the revised November rate of 1,635,000 and is 17.3% above the December 2019 rate. Single-family authorizations in December were at a rate of 1,226,000; this is 7.8% above the December 2019 figure. Authorizations of units in buildings with five units or more were at a rate of 437,000. An estimated 1,452,000 housing units were authorized by building permits in 2020. This is 4.8% above the 2019 figure of 1,386,000.

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Original Source:
MONTHLY NEW RESIDENTIAL CONSTRUCTION, DECEMBER 2020