According to Reuters, the number of U.S. single-family homes that broke ground rose in December to the highest level in more than six years.
The Commerce Department reports that the single-family housing start jumped by 7.2 percent to a seasonally adjusted annual pace of 728,000 units. The industry sees this as a hopeful sign for the sluggish housing market recovery, Reuters reports. Housing has lagged an acceleration in economic growth, as first-time buyers and young adults are sidelined from the housing market due to stringent lending practices and delayed household formation.
Advertisement
Related Stories
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Sustainability
Mention of Eco-Friendly Home Features Is on the Rise in Sales Listings
Home listing descriptions using eco-friendly terms have been rising over the past five years in line with growing consumer interest in the environment and energy efficiency
Sales + Marketing
New-Home Sales and Navigating the 3 D’s: Death, Divorce, and Downsizing
Here’s how home sales experts manage challenging lifestyle changes with and for their buyers