News

Building permits fell 0.7% in December and 3.1% over the year. Permits for single-family homes rose 1.6% in December but declined 2.5% over the year. Permits for buildings with five or more units fell 5.8% from November and 5.4% over the year.

In December, housing starts jumped 15.8% from November but slipped 4.4% from December 2023. Additionally, starts for single-family homes rose 3.3% from November but fell 2.6% from December 2023. Meanwhile, starts for buildings with five or more units soared 58.9% from November but declined 11.3% over the year.

Housing completions decreased 4.8% over the month and 0.8% over the year. Single-family home completions fell 7.4% from November and dropped by the same percentage over the year. Completions for buildings with five or more units decreased 1.7% over the month but grew 9.4% from December 2023.