Overall Housing Production Drops in December

The National Association of Home Builders (NAHB) reports housing production fell 9.8 percent in December to a seasonally-adjusted annual rate (SAAR) of 999,000 units following a gain in housing starts in November. The U.S. Department of Housing and Urban Development (HUD) and the Census Bureau say single-family housing starts fell 7 percent to a seasonally adjusted annual rate of 667,000 units in Dec. Except for November, this was the highest monthly total for single-family starts in 2013, as single-family starts dropped seven percent in Dec. to an SAAR of 667,000 units. Multifamily starts fell 17.9 percent to 312,000 units in Dec., as MHProNews has learned. While overall permit issuance fell 3 percent to 986,000 units, of that number, single-family permits comprised 610,000, a 4.8 percent drop from the previous month.

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