December Sees Rise in New Residential Construction

 

Of all the regions the Northeast fared the best, increasing 45 percent since December 2008 and increasing 27.9 percent from November to December. The South increased 5.6 percent over the past 12 months and 4.6 percent in the past month.
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Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 653,000. This is 10.9 percent above the revised November rate of 589,000 and is 15.8 percent above the December 2008 estimate of 564,000.

Single-family authorizations in December were at a rate of 508,000; this is 8.3 percent above the revised November figure of 469,000. All of this is good for the housing industry, which has been in a slump for more than two years. ?EUR??,,????'?????<