Housing Starts Down 4.1% from November But Up 24.9% from from December 2010

December housing starts were at a seasonally adjusted annual rate of 657,000, 4.1% below the revised November estimate of 685,000, but 24.9% above the December 2010 rate of 526,000, according to the U.S. Census Bureau.

Single-family housing starts in December were at a rate of 470,000; 4.4% above the revised November figure of 450,000. The December rate for units in buildings with five units or more was 164,000. An estimated 606,900 housing units were started in 2011, 3.4% above the 2010 figure of 586,900. Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 679,000, 0.1% below the revised November rate of 680,000, but 7.8% above the December 2010 estimate of 630,000.