US housing starts rise more than expected in Dec
by ChemOrbis Editorial Team - content@chemorbis.com
According to data from the US Commerce Department, US housing starts rebounded in December and considerably increased after a fall in November.
The data from US Census Bureau and the Department of Housing and Urban Development reveals that privately owned housing starts stood at 1,230,000 with an increase of 11.3% from 1,090,000 registered in November. Market expectations were calling for housing starts to stand at 1,200,000 in December.
Building permits in December dropped slightly by 0.2% month on month to 1,210,000 and missed the expectations of 1,230,000, the data showed.
The rise in housing starts in December was attributed to the increase in multi-family housing starts, which were up by 57.3% after a sharp fall of 39.4% in November.
The housing starts reached 1,170,000 for all of 2016. This was up from 1,110,000 in 2015 as well as the biggest number since 2007.
The data from US Census Bureau and the Department of Housing and Urban Development reveals that privately owned housing starts stood at 1,230,000 with an increase of 11.3% from 1,090,000 registered in November. Market expectations were calling for housing starts to stand at 1,200,000 in December.
Building permits in December dropped slightly by 0.2% month on month to 1,210,000 and missed the expectations of 1,230,000, the data showed.
The rise in housing starts in December was attributed to the increase in multi-family housing starts, which were up by 57.3% after a sharp fall of 39.4% in November.
The housing starts reached 1,170,000 for all of 2016. This was up from 1,110,000 in 2015 as well as the biggest number since 2007.
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