Housing starts dip in December but end 2013 strong overall

New home construction dropped 9.8 percent in December compared to a surge of housing starts in November, but still ended 2013 with one of the strongest years since 2007, according to Commerce Department data, USA Today reports.

The month-to-month drop was actually lower than many housing experts had expected and extremely frigid weather may have played a role in lower housing starts in some areas of the country including the Midwest, analysts said.

Overall, 2013 as a whole has been seen as a stronger year for home construction. “Last year was a good year for home building, with overall production up 18 percent from 2012,” said National Association of Home Builders Chief Economist David Crowe in a news release.

In other headlines:

Builders Begin Work on More U.S. Homes Than Forecast – Bloomberg

U.S. housing starts fall less than expected, weather may be a factor – Reuters

U.S. Housing Starts Maintain Strong Pace in December – Wall Street Journal

Housing crash hit minority communities hardest, study shows – Chicago Tribune (via Reuters)

Chicago-area foreclosure filings down 28% last year – Crain’s Chicago Business

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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