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U.S. Housing Production at 999,000 Units in December
Jan 30, 2014
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U.S. housing starts ended 2013 at a seasonally adjusted annual rate of 999,000 units in December, according to U.S. Census Bureau. This was down from November, when the rate was quite high, but was still the third-highest monthly production level of the year.

“This rate is in line with our builder surveys, and tells us we are seeing a return to trend after a strong November,” said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a homebuilder from Charlotte, NC.

“Last year was a good year for home building, with overall production up 18% from 2012,” said NAHB Chief Economist David Crowe. “As pent-up demand is unlocked and the labor market improves, we anticipate that 2014 should be an even better year for home construction. That’s good news for economic growth, as each new home that is built creates three full-time jobs and contributes to the tax base of local communities.”

Single-family housing starts fell 7% to a seasonally adjusted annual rate of 667,000 units in December. It was the highest monthly total for single-family starts in 2013 with the exception of November. Multifamily starts were down 17.9% to 312,000 units in December.

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