Data show that housing starts are at a seasonally adjusted annual pace of 728,000 units.
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.