Housing starts ended 2016 on a high note, beating expectations and springing 11.3 percent above the prior month’s figure. Privately-owned housing starts came in at 1,226,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), while single-family starts came in 4.0 percent below the prior month’s figure, at 795,000. Starts for units in buildings with five units or more came in at 417,000.
Privately-owned completions came to 1,123,000, 7.9 percent below the prior month’s figure, in December, while single-family completions came to 761,000, 0.9 percent below the prior month’s figure. Completions for units in buildings with five units or more came to 355,000.
Permits for privately-owned housing units posted 1,210,000 in December, 0.2 percent below the prior month’s figure, while permits for single-family housing units posted 817,000, 4.7 percent above the prior month’s figure. Permits for units in buildings with five units or more also posted 355,000.
More than one million housing units were started in 2016, a total 1,166,400—4.9 percent above the starts in 2015. More than one million housing units were also authorized for permits in 2016, a total 1,186,900, up 0.4 percent from 2015.
Source: U.S. Census Bureau
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