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Groundbreaking dropped 2.5 percent to a seasonally adjusted
annual pace of 1.15 million units, the Commerce Department said
on Wednesday. November's starts were revised to a 1.8
million-unit rate from the previously reported 1.17 million-unit
pace.
December was the ninth straight month that starts were above 1
million units, the longest run since 2007. Housing starts
averaged 1.11 million units in 2015, the highest since 2007 and
up from 1.00 million units in 2014.
Building permits fell 3.9 percent a 1.23 million-unit rate last
month. The drop followed two months of hefty gains.
Permits for the construction of single-family homes rose 1.8
percent last month. Multi-family building permits tumbled 11.4
percent.
(Reporting By Lucia Mutikani; Editing by Andrea Ricci)
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