Construction Starts Bounce Back, Permits Remain Constrained

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Posted To: MND NewsWire

Housing starts continued their see-saw pattern in December, rising 11.3 percent from November when they had fallen significantly after a sensational October. The increase this time, however, was due solely to a surge in multi-family construction. Meanwhile, housing permits turned in another lackluster performance. The U.S. Census Bureau and the Department of Housing and Urban Development reported that residential housing starts were at a seasonally adjusted annual rate of 1,226,000 in December, up from a revised rate of 1,102,000 in November. The November estimate was originally reported at a rate of 1,090,000. The December estimate put housing starts up 5.7 percent from the level in December 2015. Analysts polled by Econoday had expected starts in the range of 1,100,000 to 1,275,000 with a…(read more)

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