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.