New Residential Housing Starts Down 1.4% in December

This article was originally written by Doug Short. From 2016-2022, it was improved upon and updated by Jill Mislinski. Starting in January 2023, AP Charts pages will be maintained by Jennifer Nash at Advisor Perspectives/VettaFi.

The U.S. Census Bureau and the Department of Housing and Urban Development have now published its findings for December new residential housing starts. The latest reading of 1.382M was slightly above the forecast of 1.359M and is a 1.4% decrease from the previous month's 1.401M.

Here is the opening of this morning's monthly report:

Housing Starts

Privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,382,000. This is 1.4 percent (±16.9
percent)* below the revised November estimate of 1,401,000 and is 21.8 percent (±11.2 percent) below the December 2021
rate of 1,768,000. Single‐family housing starts in December were at a rate of 909,000; this is 11.3 percent (±20.7 percent)*
above the revised November figure of 817,000. The December rate for units in buildings with five units or more was 463,000. [
link to report]

Here is the historical series for total privately-owned housing starts, which dates from 1959. Because of the extreme volatility of the monthly data points, a six-month moving average has been included.