U.S. Housing Starts Fall, But Annual Gains Solid

Washington, Rabi’II 10, 1437, Jan 20, 2016, SPA — U.S. housing starts and building permits fell in December after significant gains the previous month, but residential construction ended 2015 at its healthiest level in eight years, the government reported Wednesday.
The Commerce Department said groundbreaking on new homes fell to an annual pace of 1.15 million units, down 2.5 percent from November’s rate of 1.8 million.
December was the ninth consecutive month that housing starts were above 1 million units, the longest stretch since 2007, when the housing bubble triggered the start of the Great Recession.
Housing starts averaged 1.11 million in 2015, the highest since 2007 and up 10.8 percent from 1.00 million in 2014.
–SPA
19:26 LOCAL TIME 16:26 GMT