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Jan. 19, 2022, 8:34 a.m. EST

Housing starts edges higher in December as permitting for residential construction soars

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By Jacob Passy

U.S. home builders started construction on homes at a seasonally-adjusted annual rate of roughly 1.7 million in December, representing a 1% increase from the previous month, the U.S. Census Bureau reported Wednesday. Compared with December 2020, housing starts were up 2.5%. Meanwhile, permitting for new homes occurred at a seasonally-adjusted annual rate of 1.87 million, up 9% from November and 6.5% from a year ago. Economists polled by MarketWatch had expected housing starts to occur at a median pace of 1.65 million and building permits to come in at a median pace of 1.71 million.

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