The 2020 Mid-Year Economic Update_long

2007 Housing Starts Down Nearly 25%

Source: U.S. Census Bureau

Building Permits
Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,068,000. This is 8.1 percent below the revised November rate of 1,162,000 and is 34.4 percent below the revised December 2006 estimate.
 
Single-family authorizations in December were at a rate of 692,000; this is 10.1 percent below the November figure of 770,000. Authorizations of units in buildings with five units or more were at a rate of 322,000 in December.
 
An estimated 1,376,100 housing units were authorized by building permits in 2007. This is 25.3 percent below the 2006 figure.
 
Housing Starts
Privately-owned housing starts in December ...

Source: U.S. Census Bureau

Building Permits
Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,068,000. This is 8.1 percent below the revised November rate of 1,162,000 and is 34.4 percent below the revised December 2006 estimate.
 
Single-family authorizations in December were at a rate of 692,000; this is 10.1 percent below the November figure of 770,000. Authorizations of units in buildings with five units or more were at a rate of 322,000 in December.
 
An estimated 1,376,100 housing units were authorized by building permits in 2007. This is 25.3 percent below the 2006 figure.
 
Housing Starts
Privately-owned housing starts in December were at a seasonally adjusted annual rate of 1,006,000. This is 14.2 percent below the revised November estimate of 1,173,000 and is 38.2 percent below the revised December 2006 rate of 1,629,000.
 
Single-family housing starts in December were at a rate of 794,000; this is 2.9 percent below the November figure of 818,000.
 
The December rate for units in buildings with five units or more was 196,000.
 
An estimated 1,353,700 housing units were started in 2007. This is 24.8 percent below the 2006 figure of 1,800,900.
 
Housing Completions
Privately-owned housing completions in December were at a seasonally adjusted annual rate of 1,302,000. This is 7.7 percent below the revised November estimate of 1,411,000 and is 31 percent below the revised December 2006 rate of 1,887,000.
 
Single-family housing completions in December were at a rate of 1,009,000; this is 12 percent (±10.5%) below the November figure of 1,146,000. The December rate for units in buildings with five units or more was 278,000.
 
An estimated 1,500,200 housing units were completed in 2007. This is 24.2 percent below the 2006 figure of 1,979,400.

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