United States Housing Brief, December 2020

Abstract

December housing data denoted the second consecutive month of total starts greater than 1.5 million units. For the fourth consecutive month, total starts exceeded their 61-year historical average. Further, single-family starts were the greatest since September 2006 (1,384,000 units). Aggregate (month-over-month and year-over-year) U.S. housing market data also were positive. The single-family subsector is the primary source of the current uptrend and is progressively gaining momentum. Month-over-month data yielded decreases in three categories: aggregate multifamily starts and permits, and new sales. Year-over-year data indicated declines for multifamily starts and permits. Existing house sales were the greatest quantity since 2006. Residential construction spending was positive month-over-month and year-over-year; and expenditures from October through December were the greatest since 2005–2006 (nominal basis).

Citation

Alderman, Delton. 2021. United States Housing Brief, December 2020. Research Note FPL-RN-0398. Madison, WI: U.S. Department of Agriculture, Forest Service, Forest Products Laboratory. 6 p.