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Construction of new homes in U.S. continued to grow in December

Housing Starts U.S. Economic Indicators



In December U.S. housing starts soared by 7.9 % on the seasonally adjusted basis to annual rate of 1,669,000 units, an increase of 122,000 units from 1,547,000 in November, reported by the Department of Housing and Urban Development. Most of December´s growth took place in the Midwest and it was concentrated in single-family buildings.

New building grew 28.1 % in the Midwest while the construction of single-family units increased 12.8 % to 1,338,000 units.

Housing normally has a wide-ranging influence on the rest of the economy because so many raw materials and finished goods are required to build homes and furnish them after sale.

Despite recent growth, new construction of homes is still below the average level of 1,198,786 units.Building permits have increased by smaller rate than a month ago, building permits soared by 4.3 % or 70,000 units to an annual rate of 1,669,000 units, from 1,547,000 in November on the seasonally adjusted basis Most of December´s growth took place in the Midwest and it was concentrated in single-family buildings.

The demand for building permits grew 14.6 % in the Midwest while the construction of single-family units increased 7.3 % to 1,338,000 units.

Many economists consider single-family permits to be the most important number in the government's release. Compare to a year ago monthly building permits soared by 20.7 %




Housing Starts

  M/M Y/Y
  Northeast -20.74% -19.55%
  Midwest 28.06% -1.18%
  South 6.06% 5.93 %
  West 11.30% 10.22 %
  Single-family 12.82% 26.82 %
  2 - 4 units 111.11% 11.76 %
  5 or more units -11.36% -41.79%


Over the last 12 months, Construction of new homes in U.S. soared by 3.8 %, as housing starts in the West 10.2 % led the increase.



Permits By Region
  • In Northeast housing units were authorized at seasonally adjusted annual rate of 141,000 units, an decrease of 8,000 units, or -5.37 % from 149,000 units Nov. 2020 and an increase of 5.22 % from 134,000 units Dec. 2019.


  • In Midwest housing units were authorized at seasonally adjusted annual rate of 251,000 units, an increase of 32,000 units, or 14.61 % from 219,000 units Nov. 2020 and an increase of 21.26 % from 207,000 units Dec. 2019.


  • In West housing units were authorized at seasonally adjusted annual rate of 438,000 units, an increase of 35,000 units, or 8.68 % from 403,000 units Nov. 2020 and an increase of 13.18 % from 387,000 units Dec. 2019.
  • In South housing units were authorized at seasonally adjusted annual rate of 879,000 units, an increase of 11,000 units, or 1.27 % from 868,000 units Nov. 2020 and an increase of 27.76 % from 688,000 units Dec. 2019.

New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), units)
Dec. 2020

prel.
Nov. 2020

prel.
Oct. 2020

prel.
Sep. 2020

prel.
Aug. 2020

prel.
Total
1,709,000 1,639,000 1,545,000 1,553,000 1,470,000
In structures Single-family units
1,226,000 1,143,000 1,120,000 1,119,000 1,036,000
In structures with 2 - 4 units
46,000 55,000 60,000 44,000 53,000
In structures with 5 units or more
437,000 441,000 365,000 390,000 381,000
Northeast
141,000 149,000 134,000 151,000 119,000
Midwest
251,000 219,000 213,000 206,000 188,000
South
879,000 868,000 821,000 814,000 795,000
West
438,000 403,000 377,000 382,000 368,000



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in M / M)
Dec. 2020
prel.
Nov. 2020
prel.
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
Total 4.27 % 6.08 % -0.52 % 5.65 % -1.67 %
In structures Single-family units 7.26 % 2.05 % 0.09 % 8.01 % 5.39 %
In structures with 2 - 4 units -16.36 % -8.33 % 36.36 % -16.98 % 17.78 %
In structures with 5 units or more -0.91 % 20.82 % -6.41 % 2.36 % -18.42 %
Northeast -5.37 % 11.19 % -11.26 % 26.89 % -15 %
Midwest 14.61 % 2.82 % 3.4 % 9.57 % -16.07 %
South 1.27 % 5.72 % 0.86 % 2.39 % 5.44 %
West 8.68 % 6.9 % -1.31 % 3.8 % -2.39 %



New Housing Units Authorized
(Seasonally adj., at Annual Rate, units), in % Y/Y)
Dec. 2020
prel.
Nov. 2020
prel.
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
Total 20.69 % 11.19 % 5.75 % 11.97 % 3.59 %
In structures Single-family units 33.84 % 24.1 % 22.94 % 26.87 % 19.63 %
In structures with 2 - 4 units 9.52 % 44.74 % 25 % 25.71 % 20.45 %
In structures with 5 units or more -4.59 % -14.37 % -27.29 % -17.02 % -25.15 %
Northeast 5.22 % -6.29 % -2.9 % 33.63 % -21.19 %
Midwest 21.26 % 6.31 % 18.99 % 17.05 % -0.53 %
South 27.76 % 17.93 % 6.21 % 11.2 % 6.28 %
West 13.18 % 8.04 % 1.62 % 4.37 % 11.18 %



New Housing Units Started
(Seasonally adj., at Annual Rate, units)
Dec. 2020

prel.
Nov. 2020

prel.
Oct. 2020

prel.
Sep. 2020

prel.
Aug. 2020

prel.
Total
1,669,000 1,547,000 1,530,000 1,415,000 1,416,000
In structures Single-family units
1,338,000 1,186,000 1,179,000 1,108,000 1,021,000
In structures with 2 - 4 units
19,000 9,000 17,000 12,000 20,000
In structures with 5 units or more
312,000 352,000 334,000 295,000 375,000
Northeast
107,000 135,000 78,000 145,000 89,000
Midwest
251,000 196,000 219,000 165,000 267,000
South
858,000 809,000 859,000 755,000 699,000
West
453,000 407,000 374,000 350,000 361,000



New Housing Units Started
(Seasonally adj. at Annual Rate, units), in Y / Y)
Dec. 2020
prel.
Nov. 2020
prel.
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
Total 7.89 % 1.11 % 8.13 % -0.07 % -5.35 %
In structures Single-family units 12.82 % 0.59 % 6.41 % 8.52 % 8.62 %
In structures with 2 - 4 units 111.11 % -47.06 % 41.67 % -40 % 122.22 %
In structures with 5 units or more -11.36 % 5.39 % 13.22 % -21.33 % -31.44 %
Northeast -20.74 % 73.08 % -46.21 % 62.92 % -43.31 %
Midwest 28.06 % -10.5 % 32.73 % -38.2 % 32.84 %
South 6.06 % -5.82 % 13.77 % 8.01 % -15.78 %
West 11.3 % 8.82 % 6.86 % -3.05 % 17.21 %



New Housing Units Started
(Seasonally adj. at Annual Rate, in % Y/Y)
Dec. 2020
prel.
Nov. 2020
prel.
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
Total 3.79 % 12.51 % 14.18 % 12.66 % 3.81 %
In structures Single-family units 26.82 % 24.97 % 28.99 % 20.7 % 11.1 %
In structures with 2 - 4 units 11.76 % -55 % 41.67 % 9.09 % -4.76 %
In structures with 5 units or more -41.79 % -13.3 % -19.32 % -9.79 % -11.56 %
Northeast -19.55 % 27.36 % -32.17 % 33.03 % -28.23 %
Midwest -1.18 % 5.95 % 22.35 % -1.2 % 27.14 %
South 5.93 % 9.18 % 24.13 % 11.69 % -1.69 %
West 10.22 % 18.66 % 5.65 % 15.13 % 13.17 %



New Housing Units Authorized
(Not seasonally adjusted, units)
Dec. 2020

prel.
Nov. 2020

prel.
Oct. 2020

prel.
Sep. 2020

prel.
Aug. 2020

prel.
Total
134,100 120,200 133,000 134,200 125,500
In structures Single-family units
88,800 80,000 94,500 95,300 89,600
In structures with 2 - 4 units
3,600 4,100 5,400 4,000 4,700
In structures with 5 units or more
41,700 36,200 33,100 34,900 31,200
Northeast
12,700 12,200 11,600 13,600 9,900
Midwest
16,100 16,600 21,300 19,800 17,600
South
66,700 61,500 67,800 69,000 68,000
West
38,500 29,900 32,300 31,800 30,000



New Housing Units Authorized
(Not seasonally adjusted, in Y / Y)
Dec. 2020
prel.
Nov. 2020
prel.
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
Total 11.56 % -9.62 % -0.89 % 6.93 % -7.99 %
In structures Single-family units 11 % -15.34 % -0.84 % 6.36 % -3.34 %
In structures with 2 - 4 units -12.2 % -24.07 % 35 % -14.89 % 11.9 %
In structures with 5 units or more 15.19 % 9.37 % -5.16 % 11.86 % -21.21 %
Northeast 4.1 % 5.17 % -14.71 % 37.37 % -23.85 %
Midwest -3.01 % -22.07 % 7.58 % 12.5 % -17.37 %
South 8.46 % -9.29 % -1.74 % 1.47 % -1.59 %
West 28.76 % -7.43 % 1.57 % 6 % -9.37 %


New Housing Units Authorized
(Not seasonally adjusted, in % Y/Y)
Dec. 2020
prel.
Nov. 2020
prel.
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
Total 24.98 % 11.81 % 0.99 % 17.41 % -1.18 %
In structures Single-family units 42.31 % 25.39 % 18.42 % 34.99 % 14.72 %
In structures with 2 - 4 units 12.5 % 41.38 % 28.57 % 33.33 % 14.63 %
In structures with 5 units or more 0 % -11.27 % -30.61 % -14.04 % -30.51 %
Northeast 8.55 % -3.17 % -10.08 % 40.21 % -23.26 %
Midwest 24.81 % 7.1 % 11.52 % 20.73 % -4.86 %
South 28.76 % 19.19 % 1.04 % 17.15 % 2.72 %
West 24.6 % 7.17 % -0.92 % 8.53 % 1.69 %







New Housing Units Started
(Not seas. adj. at Annual Rate, units)
Dec. 2020

prel.
Nov. 2020

prel.
Oct. 2020

prel.
Sep. 2020

prel.
Aug. 2020

prel.
Total
113,300 117,500 132,000 125,000 127,300
In structures Single-family units
89,300 87,800 101,000 97,300 93,200
In structures with 2 - 4 units
1,400 700 1,400 1,000 1,700
In structures with 5 units or more
22,600 29,000 29,600 26,700 32,400
Northeast
7,400 10,900 7,300 13,300 7,800
Midwest
14,800 15,700 21,400 15,900 24,600
South
60,600 60,600 71,300 65,500 62,100
West
30,600 30,300 32,000 30,400 32,700






New Housing Units Started
(Not seas. adj. at Annual Rate, in Y / Y)
Dec. 2020
prel.
Nov. 2020
prel.
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
Total -3.57 % -10.98 % 5.6 % -1.81 % -8.68 %
In structures Single-family units 1.71 % -13.07 % 3.8 % 4.4 % 4.37 %
In structures with 2 - 4 units 100 % -50 % 40 % -41.18 % 142.86 %
In structures with 5 units or more -22.07 % -2.03 % 10.86 % -17.59 % -34.41 %
Northeast -32.11 % 49.32 % -45.11 % 70.51 % -49.02 %
Midwest -5.73 % -26.64 % 34.59 % -35.37 % 23 %
South 0 % -15.01 % 8.85 % 5.48 % -17.42 %
West 0.99 % -5.31 % 5.26 % -7.03 % 13.15 %







New Housing Units Started
(Not seas. adj. at Annual Rate, in % Y/Y)
Dec. 2020
prel.
Nov. 2020
prel.
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
Total 4.42 % 13.97 % 14.98 % 10.72 % 5.12 %
In structures Single-family units 30.17 % 27.8 % 31.51 % 20.57 % 12.97 %
In structures with 2 - 4 units 16.67 % -58.82 % 27.27 % -9.09 % -10.53 %
In structures with 5 units or more -41.6 % -11.31 % -19.78 % -14.15 % -11.72 %
Northeast -20.43 % 26.74 % -31.13 % 29.13 % -29.73 %
Midwest -0.67 % 6.08 % 25.15 % -3.05 % 27.46 %
South 7.45 % 11.6 % 25.53 % 10.08 % 0.49 %
West 9.68 % 19.29 % 5.96 % 13.43 % 13.15 %

Source U.S. Department of Commerce

       
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