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    In the fourth quarter the U.S. housing markets improved incrementally from quarter three. Total permits, single-family starts, new house sales, and single-family spending all improved modestly quarter-over-quarter. The majority of sectors increased on a year-over-year basis as well; only multifamily starts decreased, albeit minimally. Viewed from a recent historical context, all housing construction subsectors exceeded the record lows recorded in the 2008 to 2011 time period.

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    Alderman, Delton. 2018. United States housing, fourth quarter 2014. Res. Note FPL-RN-0352. Madison, WI: U.S. Department of Agriculture, Forest Service, Forest Products Laboratory. 1-20.


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    Housing permits, starts, under construction, completions, construction spending, quarterly and annual construction averages, nominal and inflation adjusted construction spending, gross domestic product

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