New Home Sales Highest In 13 Years
THE RATE OF NEW HOME CONSTRUCTION IN THE U.S. IN DECEMBER WAS NEARLY 17 PERCENT HIGHER THAN NOVEMBER'S RATE. IT'S THE HIGHEST LEVEL SINCE 2006
(CNN) – America just had its best month for new home construction in 13 years.
The Census Bureau released the data Friday.
New home construction reached an annual rate of 1.6 million homes in December.
That’s nearly 17% higher than November’s rate.
And it’s the highest rate since December 2006; before the financial crisis.
Economists had actually expected the rate of new home construction to drop in December.
The big December jump has some analysts concerned about a big correction in January’s rate.