The U.S. Census Bureau released its monthly new residential construction report for both November and December on Feb. 18, showing a sharp rebound that signalled homebuilding momentum entering 2026.

Housing Starts

Privately-owned housing starts in December were at a seasonally-adjusted annual rate of 1.40 million — 6.2% above the revised November total of $1.322 million to its highest mark since July’s 1.42 million, though still down 7.3% year-over-year. November’s starts were up 3.2% vs. October.

Economists had expected December starts to be at a rate of $1.33 million.

December’s single-family housing starts were at a rate of 981,000 — 4.1% above November’s revised figure. December rate for units in buildings with five units or more was 402,000.

Building Permits

December’s privately-owned housing units authorized by building permits were at a seasonally-adjusted rate of 1.448 million — up 4.3% from November’s revised 1.388 million and down 2.2% year-over-year. November’s permits were down 1.6% vs. October.

Single-family authorizations in December were at a rate of 881,000 — down 1.7% from November, while authorizations of units in buildings with 5+ units were at a rate of 515,000.

Housing Completions

December’s privately-owned housing completions were at a seasonally-adjusted annual rate of 1.525 million — up 2.3% from November and down 0.1% year-over-year. December’s single-family completions were at a rate of 1.023 million — down 0.1% from November, while the December rate for buildings with 5+ units was 483,000.

November’s completions were up 4.2% vs. October.