New Residential Construction Statistics for December 2015

January 20, 2016

Construction Law


The U.S. Census Bureau and the Department of Housing and Urban Development have recently announced new residential construction statistics for December 2015.  According to the data, building permits for privately-owned housing units in December were at a seasonally adjusted annual rate of 1,232,000, down 3.9 percent from the revised November rate of 1,282,000, but up 14.4 percent from the December 2014 rate of 1,077,000.  Building permits for single-family housing in December were estimated at 740,000, up 1.8 percent from the revised November rate of 727,000.  Building permits for units in buildings with five units or more in December were at a rate of 455,000.  The total estimate for housing units authorized by building permits was 1,178,400 for the year 2015, which is a 12.0 percent increase from the 2014 estimate of 1,052,100.

Privately-owned housing starts were at an adjusted rate of 1,149,000 in December, down 2.5 percent from the previous month’s revised estimate of 1,179,000, but up 6.4 percent from the December 2014 rate of 1,080,000.  Single-family housing starts were at a rate of 768,000 in December, down 3.3 percent from the revised November rate of 794,000.  Starts for units in buildings with five units or more had a December rate of 365,000.  The estimate for housing units started was 1,111,200 in 2015, a 10.8 percent increase from the 2014 estimate of 1,003,300.

In regards to housing completions, the December rate for privately-owned housing was at a seasonally adjusted annual estimate of 1,013,000, an increase of 5.6 percent from the revised November rate of 959,000 and up 7.9 percent from the December 2014 estimate of 939,000. Single-family housing completions were at a rate of 696,000 for December, putting it 8.8 percent above the revised November rate of 640,000. The housing completion rate for units in buildings with five units or more was at 307,000 in December.  The total estimate for housing units completed in 2015 was 965,700.  This estimate is a 9.3 percent increase from the 2014 estimate of 883,800.

For more information, click here to read the full U.S. Census Bureau/U.S. Department of Housing & Urban Development Press Release for December 2015.