US housing starts beat estimates, but permits down in Dec
The increase was attributed to a surge in construction of single-family houses which grew by 7.2% to reach 728,000 units, the highest figure seen since March 2008. Construction of multi-family houses, on the other hand, fell 0.8% to an annualized pace of 361,000 units.
Building permits in the US, meanwhile, declined 1.9% to an annual rate of 1.03 million in December due to a decrease in the construction of multi-family houses. However, permits for single-family homes increased to a seven-year high in December.
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