Housing is running at its strongest levels since the summer of 2006, according to numbers today. Here’s today’s report from the Commerce Department:
- December housing starts totaled 1.669 million (annualized). That beat the 1.56 million estimate and was the highest reading since July 2006.
- December building permits totaled 1.709 million (annualized). That beat the 1.604 million estimate and was the highest reading since August 2006.
- Single-family homes are dominant, while multifamily continues to weaken. This suggests the suburbanizing trend remains intact.
