The bad news: Construction on new houses sank 11 percent in December. Housing starts tumbled to an annual rate of 1.08 million in the final month of 2018 from 1.21 million in November, according to a report delayed by the recently ended partial government shutdown. That is the lowest level since September 2016.
Here's the good news: Builders applied for more permits in December, a sign that a rebound may be near. Permits to build additional houses edged up 0.3 percent to a 1.33 million annual pace, so builders will break new ground at a faster pace in early 2019.
Construction was flat in the Northeast, but that's not so bad, given the overall national landscape. New home construction fell in every other region of the country.
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