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ECON: Housing Starts Rise To Highest Level Since June 2008
Posted to: Micro News
Thursday, January 17, 2013 8:44 AM

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- Starts +12.1 pct vs -4.3 in Nov
- +954k unit rate, Highest since June 2008 (consensus 890k)
- Housing Permits 903k, as expected



BUILDING PERMITS
Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 903,000. This is 0.3 percent (±1.0%)* above the revised November rate of 900,000 and is 28.8 percent (±1.4%) above the December 2011 estimate of 701,000.

Single-family authorizations in December were at a rate of 578,000; this is 1.8 percent (±1.0%) above the revised November figure of 568,000.

Authorizations of units in buildings with five units or more were at a rate of 301,000 in December. An estimated 813,400 housing units were authorized by building permits in 2012. This is 30.3 percent (±1.1%) above the 2011 figure of 624,100.

HOUSING STARTS
Privately-owned housing starts in December were at a seasonally adjusted annual rate of 954,000. This is 12.1 percent (±13.4%)* above the revised November estimate of 851,000 and is 36.9 percent (±22.0%) above the December 2011 rate of 697,000.

Single-family housing starts in December were at a rate of 616,000; this is 8.1 percent (±9.7%)* above the revised November figure of 570,000. The December rate for units in buildings with five units or more was 330,000.

An estimated 780,000 housing units were started in 2012. This is 28.1 percent (±2.6%) above the 2011 figure of 608,800




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