Housing market shows promise in December
Single-family housing permits rose 1.8 percent from November 2012 showing good signs for the housing market in December.
Thursday'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 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 still remained 66.21% below the peak set in early 2006.
The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on paper-money.blogspot.com.