U.S. Housing Starts Down 39% in 2009

U.S. housing starts fell 4% to a seasonally adjusted annual rate of 557,000 in December compared with the revised November estimate of 580,000.

For the full year, housing starts were down 38% to an estimated 553,800 housing units versus the 2008 figure of 905,500.

Of note, however, building permits, which signal potential future construction jumped by 11% during the month to a seasonally adjusted rate of 653,000 – the highest level in more than a year.