U.S. housing starts fizzle at end of 2017

• January 18, 2018
• realestatelife
• Announcements, Business & Markets, Real Estate, Real Estate Finance

Construction on new houses fell 8.2% in December to a 1.19 million annual rate. Economists polled by MarketWatch has forecast housing starts to total 1.28 million.

Single-family starts dropped 11.8%, but construction on buildings with five or more units rose 2.6%.

Permits for future construction were basically flat at 1.30 million.
Still, 2017 was a very good year for home builders.

Permits, housing starts and the number of new homes completed all hit the highest levels since 2007.