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Starts for multi-family housing plunged 24.1% to a pace of 264,000 units, the lowest level since March. Overall housing starts dropped 1.8% to a rate of 1.289 million units.
Starts for multi-family housing soared 58.9% to a pace of 418,000 units. Overall housing starts jumped 15.8% to a rate of 1.499 million units, the highest level since last February.
Single-family housing starts, which account for the bulk of homebuilding, plunged 6.9% to a seasonally adjusted annual rate of 970,000 units last month, the Commerce Department's Census Bureau said.
U.S. single-family homebuilding increased to a 10-month high in December, indicating some improvement in housing activity at the end of the year, though rising mortgage rates and an oversupply of ...
Housing starts is an economic indicator that reflects the number of privately owned new houses (technically housing units) on which construction has been started in a given period. These data are divided into three types: single-family houses , townhouses or small condos , and apartment buildings with five or more units.
Single-family construction in 2024 saw an unexpected rebound, with 1.01 million homes started, up 6.5% from 2023.But multifamily construction has plunged, as rent growth cools and apartment ...
Single-family starts increased 5.2% from a year ago. Multi-family building permits rose 8.4% to a rate of 451,000 units. Building permits as a whole advanced 4.9% to a rate of 1.475 million units.
The inventory of single-family housing under construction declined 0.7% to a rate of 674,000 units, the lowest level since May 2021. The stock of multi-family housing under construction slipped 0. ...