Following an unusual surge in housing starts in November, nationwide housing production fell 9.8 percent to a seasonally adjusted annual rate of 999,000 units in December, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. "Total housing starts of just under 1 million units in December was the third-highest monthly level of production in 2013," Rick Judson, chairman of the National Association of Home Builders and a home builder from Charlotte, N.C., said in a statement. "This rate is in line with our builder surveys, and tells us we are seeing a return to trend after a strong November."
Following an unusual surge in housing starts in November, nationwide housing production fell 9.8 percent to a seasonally adjusted annual rate of 999,000 units in December, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. "Total housing starts of just under 1 million units in December was the third-highest monthly level of production in 2013," Rick Judson, chairman of the National Association of Home Builders and a home builder from Charlotte, N.C., said in a statement. "This rate is in line with our builder surveys, and tells us we are seeing a return to trend after a strong November."
Single-family housing starts fell 7 percent to a seasonally adjusted annual rate of 667,000 units in December. Except for November, this was the highest monthly total for single-family starts in 2013. Meanwhile, multi-family starts fell 17.9 percent to 312,000 units in December.
