U.S. housing starts in December were down 15.5% from November, and 45% below December 2007, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
Privately-owned housing starts were at a seasonally adjusted annual rate of 550,000 in December.
Single-family housing starts in December were at a rate of 398,000; this is 13.5% below the November figure. The December rate for units in buildings with five units or more was 145,000.
An estimated 904,300 housing units were started in 2008. This is 33.3% below the 2007 figure of 1,355,000.
By region, the Northeast saw a 15.4% drop in housing starts in 2008, Midwest had a 35.7% decline, the South a 33.5% fall, and the West was down …
