U.S. Housing Starts Rose Unexpectedly In December

Jan. 18, 2007
But market is still off 18% from 2005.

Housing starts showed a surprise increase of 4.5% in December, according to new government figures Jan. 18. The number of housing starts spiked to a seasonally adjusted rate of 1.642 million units, the Commerce Department said.

Most economists had forecast that starts would fall to around 1.570 million units.

Despite December's month-on-month gain, starts were down a sharp 18% compared with December 2005 when starts were at 2.002 million units.

The number of new homes under construction fell 0.9% last month compared with November, as the number of freshly-painted properties being erected dropped to 1.255 million units

Other data in the report showed a continued decline in new home construction, but that building permits -- a leading indicator of future trends -- rose. Building permits gained 5.5% in December on the month to an annual pace of 1.596 million units.

Copyright Agence France-Presse, 2007

Popular Sponsored Recommendations

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

How Digital Twin Technology is Empowering Manufacturers

Sept. 27, 2023
This FAQ delves into why this technology offers business value and considerations toward implementation.

Digitally Transforming Data and Processes With Product Lifecycle Management

Oct. 29, 2023
Manufacturers face increasing challenges in product development as they strive to consistently deliver improved results. Discover how industry leaders are improving time-to-market...

Navigating Disruption: A Leader’s Guide to Strategy Under Uncertainty

Nov. 1, 2023
AI, sustainability, digital--industrials are facing disruptive forces that are redefining what it takes to win. What got your company where it is today won’t get you where you...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!