Keeping you up to date on the latest data releases.
- Housing Starts
Single-family housing starts took a substantial dip in December, falling 9.0 percent and taking back all of November’s downwardly revised 5.8 percent gain. The pace of starts is currently 417,000 annualized units, the slowest since May 2009 and 14.2 percent below last December’s pace. Weather likely had a heavy hand in the setback, as last month ranked seventh largest snow cover recorded in December in forty-five years, according to the National Climatic Data Center. All four regions of the U.S. contributed to the drop in starts except for the West, where starts jumped 23.1 percent. On a positive note, building permits for single-family homes increased for a third consecutive month. Permits rose 5.5 percent in December but remain 14.9 percent below the year-ago pace.