The 2020 Mid-Year Economic Update_long

13% Fewer Housing Starts in 2006


Housing starts in December were at a seasonally adjusted annual rate of 1,642,000. This is 4.5 percent (±8.8%) ...

Housing starts in December were at a seasonally adjusted annual rate of 1,642,000. This is 4.5 percent (±8.8%)* above the revised November estimate of 1,572,000, but is 18.0 percent (±7.1%) below the December 2005 rate of 2,002,000.


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Single-family housing starts in December were at a rate of 1,230,000; this is 4.1 percent (±8.3%)* below the November figure of 1,282,000. The December rate for units in buildings with five units or more was 350,000.


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An estimated 1,800,700 housing units were started in 2006. This is 12.9 percent (±1.3%) below the 2005 figure of 2,068,300.


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Building Permits


Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,596,000. This is 5.5 percent (±1.1%) above the revised November rate of 1,513,000, but is 24.3 percent (±0.9%) below the December 2005 estimate of 2,107,000.


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Single-family authorizations in December were at a rate of 1,164,000; this is 1.2 percent (±1.0%) above the November figure of 1,150,000. Authorizations of units in buildings with five units or more were at a rate of 353,000 in December.


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An estimated 1,833,500 housing units were authorized by building permits in 2006. This is 14.9 percent (±0.7%) below the 2005 figure of 2,155,300.


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Housing Completions


Privately-owned housing completions in December were at a seasonally adjusted annual rate of 1,900,000. This is 0.4 percent (±9.4%)* above the revised November estimate of 1,893,000, but is 2.7 percent (±7.0%)* below the December 2005 rate of 1,953,000.


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Single-family housing completions in December were at a rate of 1,523,000; this is 0.3 percent (±10.2%)* below the November figure of 1,527,000. The December rate for units in buildings with five units or more was 320,000.


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An estimated 1,978,200 housing units were completed in 2006. This is 2.4 percent (±2.3%) above the 2005 figure of 1,931,400.


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More details, by region, here.


Economic indicators at MDM’s Databank.


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