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Written by Jeff
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Monday, 25 January 2010 07:20 |
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Our report on December Housing Starts is posted - Declining Again.
New residential construction starts declined 4.0% in December to an annual rate of 557k after an upwardly revised gain of 10.7% in November to a rate of 580k. November’s rebound proved short-lived as homebuilders continued to cut back on new starts amid a spotty economic recovery and a large number of distressed properties moving through the market. In a reversal of recent trend, it was a decline in single-family starts that led overall starts lower. Single-family housing starts dropped 6.9% last month to an annual rate of 456k, which is 5.5% higher than single family starts this time last year but still a stunning 73.6% below their January 2006 peak.
Here is the Census Bureau report on housing Permits, Starts and Completions.
Here is the take from Calculated Risk: Housing Starts Decline in December.
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