Today's New Residential Construction Report showed very positive results for December, with an increase for single- family permits and a notable improvement for both total and single-family starts.
Single-family housing permits, the most leading of indicators, rose 1.8% from November to 578K single-family units (SAAR), and increased 27.3% above the level seen in December 2011. But they still remained an astonishing 67.85% below the peak in September 2005.
Single-family housing starts increased a whopping 8.1% from November to 616K units (SAAR), and rose 18.5% above the level seen in December 2011. But they still remained 66.21% below the peak set in early 2006.