Housing starts increased 3.4 percent in ’11

By Patrick Anderson
PBN Staff Writer

WASHINGTON – New housing starts in the U.S. increased 3.4 percent in 2011 compared with 2010 while building new building permits were up 1.2 percent for the year, according to new U.S. Department of Commerce figures.

In December, housing starts were up even more, rising 24.9 percent compared with December 2010 while the number of new units authorized through building permits was up 7.8 percent.

There were 657,000 privately owned housing starts in December compared with 526,000 in December 2010. The 679,000 housing units authorized through building permits was up from 630,000 in December 2010.