US residential building permits, housing starts and completions all rise in December

US residential building permits, housing starts and completions all rise in December

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The US Census Bureau and the US Department of Housing and Urban Development jointly announced that privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,709,000. This is 4.5 percent (±1.4 percent) above the revised November rate of 1,635,000 and is 17.3 percent (±1.8 percent) above the December 2019 rate of 1,457,000.

Single-family authorizations in December were at a rate of 1,226,000; this is 7.8 percent (±0.9 percent) above the revised November figure of 1,137,000. Authorizations of units in buildings with five units or more were at a rate of 437,000 in December. An estimated 1,452,000 housing units were authorized by building permits in 2020. This is 4.8 percent (±0.4 percent) above the 2019 figure of 1,386,000.

Privately-owned housing starts in December were at a seasonally adjusted annual rate of 1,669,000. This is 5.8 percent (±11.0 percent) above the revised November estimate of 1,578,000 and is 5.2 percent (±10.1 percent) above the December 2019 rate of 1,587,000.

Single-family housing starts in December were at a rate of 1,338,000; this is 12.0 percent (±13.4 percent) above the revised November figure of 1,195,000. The December rate for units in buildings with five units or more was 312,000. An estimated 1,380,300 housing units were started in 2020. This is 7.0 percent (±2.3 percent) above the 2019 figure of 1,290,000.

Privately-owned housing completions in December were at a seasonally adjusted annual rate of 1,417,000. This is 15.9 percent (±14.8 percent) above the revised November estimate of 1,223,000 and is 8.0 percent (±12.2 percent) above the December 2019 rate of 1,312,000.

Single-family housing completions in December were at a rate of 984,000; this is 10.2 percent (±17.0 percent) above the revised November rate of 893,000. The December rate for units in buildings with five units or more was 422,000. An estimated 1,290,600 housing units were completed in 2020. This is 2.8 percent (±3.4 percent) above the 2019 figure of 1,255,100.

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