WASHINGTON — U.S. home construction jumped 5.8% in December to 1.67 million units, ending a strong year for home building.
The better-than-expected gain followed an increase of 9.8% in November, the Commerce Department reported Thursday.
Housing has been one of the star performers this year even as the overall economy has been wracked by the coronavirus. Record-low mortgage rates and the desire of many people to move to larger homes during the extended stay-at-home period has fueled demand.
For December, construction of single-family homes increased 12%.
Martin Crutsinger, The Associated Press