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U.S. home construction slows in December

Enlarge  Narrow Add Date:2014-01-20   Source:Xinhua NetViews:12074

WASHINGTON, Jan. 17 (Xinhua) -- New home constructions in the United States slowed in December, but the annual total registered a significant increase from a year ago, pointing to further evidence that the U.S. housing market is recovering.

The Department of Commerce said Friday that privately-owned housing starts in December were at a seasonally adjusted annual rate of 999,000 units, 9.8 percent below the revised November estimate of 1.1 million, but was 1.6 percent above the December 2012 rate.

Single-family housing starts, which takes up two thirds of the total, stood at 667,000 units, 7 percent below the revised November data.

For the whole year of 2013, builders started 923,400 housing units, up 18.3 percent from 2012.

Privately-owned housing units authorized by building permits in December, a gauge of future construction, were at a seasonally adjusted annual rate of 986,000. This was 3 percent below the November data, but was 4.6 percent above the December 2012 estimate of 943,000.

The U.S. housing industry, which suffered its worst slump in decades since 2006, has showed signs of steady improvement over the past year.
 
 

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