December’s Residential Construction Report Not Worth the Wait

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Posted To: MND NewsWire

Sometime things are just not worth the wait. The long-delayed December report on residential construction from the Census Bureau and the Department of Housing and Urban Development was finally released today, about five weeks later than scheduled, because of the partial government shutdown. Only one of the three indicators moved higher, and only marginally. Housing starts took an especially large hit and two of the three indicators are now badly lagging those of 12 months earlier. Permits for privately-owned housing units moved higher by 0.3 percent in December to a seasonally adjusted annual rate of 1.326,000 units from a revised (from 1,328,000) 1,322,000 units. The December number is 0.5 percent higher than the permitting rate in December 2017. It was the second month that permitting moved…(read more)

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