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Residential Construction Tepid in December but Gained Ground in 2014

December’s numbers for residential construction were mixed
when compared to November, but all were better than the monthly figures the previous
December.  Year-end figures, also released
today by the Census Bureau and the Department of Housing and Urban Development show
permitting, housing starts, and completions all performed better in 2014 than
in 2013.   

Permits for privately owned housing units were issued in
December at a seasonally adjusted annual rate of 1,032,000 units.  This was a -1.9 percent change from the upwardly
revised (from 1,035,000) November rate of 1,052,000 units.  Permits in December were up 1.0 percent from
the December 2013 estimate of 1,022,000.

 

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