U.S. Housing Starts Surge to 1.499 Million in December, Building Permits Decline

Jan 17, 2025, 01:31 PM

U.S. housing starts for December rose significantly to an annual rate of 1.499 million units, surpassing the consensus estimate of 1.327 million units and marking the highest level since February 2024. This represents a 15.8% increase from the previous month's revised figure of 1.294 million units. Conversely, building permits for December fell by 0.7% to an annual rate of 1.483 million units, slightly better than the expected decline of 2.2% and down from the prior month's 1.493 million units. These figures indicate a robust increase in housing construction activity despite a slight decrease in permits issued.