Total housing starts across the U.S. hit a record high in December. Multifamily starts haven’t reached current levels in more than 30 years and single-family starts are at a 13-year high, according to U.S. Census figures.
The seasonally adjusted annual rate for annual multifamily starts rose 32% from last month and 74.6% from year-ago figures (to 536,000 units). Single-family starts climbed 11.2% from the previous month and 29.6% above year-ago figures (1,055,000 units). Together, total residential starts rose almost 41% above 2018’s pace of 1.61 million units.
Read more...New Housing Starts Spike in December via RealPage