Talking Points …
- New-home construction in the U.S. unexpectedly fell in December, indicating the industry lost some momentum entering 2016. Permits decreased 3.9 percent to a 1.23 million annualized rate last month, reflecting an 11.4 percent slump in applications for multifamily projects.
- Residential starts declined 2.5 percent to a 1.15 million annualized rate, from the prior month’s revised 1.18 million pace, according to a Commerce Department report.
- For all of 2015, housing starts climbed 10.8 percent to 1.11 million, the strongest year for construction since 2007. Estimates for December starts ranged from 1.11 million to 1.3 million. The previous month was revised from a 1.17 million pace.