Residential Construction Down but Close to Consensus

Posted To: MND NewsWire

Both housing starts and residential construction permits declined in December compared to November. A joint release from the U.S. Census Bureau and the Department of Housing and Urban Development shows that housing starts were at a seasonally adjusted annual rate of 1,149,000, a 2.5 percent month-over month decline. The latest figure is 6.4 percent higher than that of a year earlier, 1,080,000. The release revised the original estimate for November 2015 to 1,179,000 units from the originally reported 1,173,000. The consensus estimate among analysts for December housing starts was 1.2 million. The range of predictions was 1.115 to 1.255 million. Single family starts were at a rate of 768,000, down 3.3 percent from November 2015, an estimate revised upward from 768,000 to 794,000, and 6.1 percent...(read more)

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