Single-family housing starts, ↑ 11.3% to a seasonally adjusted annual rate of 909K units in Dec, the highest level since August. Starts for housing projects with 5 units or more ↓ 18.9% to a rate of 463K units. Overall housing starts ↓ 1.4% to a rate of ~1.4M units in Dec and ↓ 3.0% in 2022. Single-family building permits ↓ 6.5% to a rate of 730K units, while those with 5 units or more ↑ 7.1% to a rate of 555K units. Overall building permits ↓ 1.6% to a rate of ~1.3M units.
Market Update