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US Home Construction Jumps 5.8% In December To 1.67 Million

US Home Construction Jumps 5.8% In December To 1.67 Million

U.S. home construction jumped 5.8% in December to 1.67 million units, ending a strong year for home building.

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%.

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