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Home Construction Soars to 14-Year High

New U.S. home construction grew at a seasonally adjusted annual rate of 1.67 million units last month, a 5.8% increase over November and the strongest pace in 14 years. So reports the Associated Press.

Overall, 2020 saw construction start on 1.45 million units, a 4.8% annual increase and the fastest clip since a total of 1.8 million units in 2006.

Nancy Vanden Houten, lead U.S. economist at Oxford Economics, projected that the rate of housing starts would cool in 2021.

Read the full article from Associated Press.

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