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Tags: Home Construction

US Home Construction Rises Third Straight Month in December

home construction
(Getty Images)

Wednesday, 19 January 2022 08:45 AM

Construction of new homes in the U.S. rose again in December as builders ramp up projects amid a persistent shortage of homes.

The December increase puts home construction at a seasonally adjusted annual rate of 1.70 million units, the Commerce Department reported Wednesday, the third consecutive monthly gain.

Applications for building permits, which can forecast future building activity, rose a whopping 9.1% to a seasonally-adjusted rate of 1.87 million units.

Both starts and permits topped expectations. Analysts surveyed by FactSet were expecting 1.65 million starts and 1.70 million permit applications.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


StreetTalk
Construction of new homes in the U.S. rose again in December as builders ramp up projects amid a persistent shortage of homes.
Home Construction
90
2022-45-19
Wednesday, 19 January 2022 08:45 AM
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