Nationwide Housing Production Falls Just Under 1 Million Units in December
Following an unusual surge in housing starts in November, nationwide housing production fell 9.8% to a seasonally adjusted annual rate of 999,000 units in December, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
"Total housing starts of just under 1 million units in December was the third-highest monthly level of production in 2013," said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. "This rate is in line with our builder surveys, and tells us we are seeing a return to trend after a strong November."