Housing starts crush expectations, surging 12.1%

Market news

17 January 2013

Housing starts crush expectations, surging 12.1%

Housing starts surged 12.1 percent in December to 954,000 at an annualized rate. November housing starts were revised down to 851,000 from a prior reading of 861,000.

Economists expected starts to rise just 3.3 percent to 890,000.

Building permits climbed 0.3 percent to 903,000, missing expectations of a 0.5 percent rise.

Upgrades and downgrades before the market open:

U.S. weekly jobless claims fall much more than expected

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