Despite new housing starts being down to 75 percent from 77 percent in November 2015, a deeper look at the numbers shows positive signs for new construction starts, Trulia reports.
While being down 2 percent from November 2015, the number is still up from 70 percent in December 2014. In addition, year-to-year numbers, which are not nearly as volatile as monthly numbers, are up 10.8 percent from 2014 and up 12.5 percent for starts with five or more units, which is good news for areas with tight inventories such as the Northeast and the West Coast.
These numbers make last year the best year for housing starts in nearly a decade, despite the slight dip in the final month.
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