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Builders Set Production Record in 2005

January 25, 2006

Despite a year-end slowdown, U.S. home builders set a record for single-family housing production in 2005, according to figures reported by the Commerce Department last week.

“All in all, 2005 will be remembered as a superb year for the housing industry, thanks to highly favorable interest rates and the strong buyer demand they helped spur,” said NAHB President David Pressly.

“Total U.S. housing starts for the year 2005 topped 2.06 million units, which is up 5.6% from 2004 and the second-highest starts number on record following 1972’s 2.36 million units,” said NAHB Chief Economist David Seiders. “On the single-family side, starts hit 1.71 million units for all of 2005. This is up 6.4% from 2004 and the best pace ever recorded. It’s also the third consecutive time that single-family starts have broken the annual record.”

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