Nationwide housing starts increased 10.8 percent to 1.11 million units and single-family starts rose 10.4 percent to 715,000 units in 2015, according to the U.S. Census Bureau.
In December, single-family starts decreased 3.3 percent to 768,000 units compared with November’s 794,000 units. December’s unit total was the second highest monthly total in 2015, with November’s being the highest.
"The gradual increase in housing production for 2015 mirrors our forecast and sets the stage for continued growth in 2016," said NAHB Chief Economist David Crowe in a statement. "Strong job growth, rising consumer confidence and pent-up demand will keep housing on an upward trend."
The NAHB predicts 1.26 million total housing starts in 2016, an increase of 13.4 percent from 2015. Single-family housing starts are forecasted to reach 840,000 in 2016, an 18 percent increase from 2015.
