Housing Starts: Strongest Year Since 2007

Thu January 19, 2017

A substantial December increase made 2016 the best year for housing starts since 2007, according to the New Residential Construction Report for December 2016 jointly released by HUD and the U.S. Census Bureau on Thursday.

The annual rate for privately-owned housing starts in December rose by 11.3 percent from November and 5.7 percent from December 2015, up to a rate of 1.22 million. For single-family housing starts, however, the annual rate dropped by 4 percent over-the-month down to 795,000.

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