There was some good news about housing production in December. Due to an increase in both single-family and multifamily unit starts throughout 2013, there was a 22.7% rise in housing production in December. This brings the seasonally adjusted annual rate of housing production up to 1.09 million units for that month.
Information from the Census Bureau and HUD shows that housing starts increased to by 5.9% in July. Construction of multifamily units is greatly helping these numbers with a 26% increase in July in just one month. This recent increase displays an improving American housing market and one where we can be confident that further progress will likely be made in the upcoming months.
Rates for housing starts have had a recent push in the past few months. In March, multifamily apartment units had an especially good showing with a 31.1% increase in starts from the month before. The nationwide rate of housing starts grew by 7% in the same month according to data released by HUD and the U.S. Census Bureau.