National new home construction metrics; December, 2022

Building Permits
Privately‐owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,330,000. This is 1.6 percent below the revised November rate of 1,351,000 and is 29.9 percent below the December 2021 rate of 1,896,000. Single‐family authorizations in December were at a rate of 730,000; this is 6.5 percent below the revised November figure of 781,000. Authorizations of units in buildings with five units or more were at a rate of 555,000 in December.

An estimated 1,649,400 housing units were authorized by building permits in 2022. This is 5.0 percent below the 2021 figure of 1,737,000.

Housing Starts
Privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,382,000. This is 1.4 percent (±16.9 percent)* below the revised November estimate of 1,401,000 and is 21.8 percent (±11.2 percent) below the December 2021 rate of 1,768,000. Single‐family housing starts in December were at a rate of 909,000; this is 11.3 percent (±20.7 percent)* above the revised November figure of 817,000. The December rate for units in buildings with five units or more was 463,000.

An estimated 1,553,300 housing units were started in 2022. This is 3.0 percent (±2.4 percent) below the 2021 figure of 1,601,000.

Housing Completions
Privately‐owned housing completions in December were at a seasonally adjusted annual rate of 1,411,000. This is 8.4 percent (±16.5 percent)* below the revised November estimate of 1,540,000, but is 6.4 percent (±11.4 percent)* above the December 2021 rate of 1,326,000. Single‐family housing completions in December were at a rate of 1,005,000; this is 8.0 percent (±11.6 percent)* below the revised November rate of 1,092,000. The December rate for units in buildings with five units or more was 385,000.

An estimated 1,392,300 housing units were completed in 2022. This is 3.8 percent (±3.3 percent) above the 2021 figure of 1,341,000.

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About TARR Report

S.M.A. Publications was formed in 1997 with a mission of providing real estate information for practitioners within the Research Triangle Park area of North Carolina. The company produces the T.A.R.R. Reports which are published monthly, quarterly and annually, covering all aspects of the residential real estate market. The publisher, Stacey P. Anfindsen, has over 23 years of residential experience in the Triangle market. He is an active real estate appraiser, educator and consultant.
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