U.S. homebuilding hits 13-year high

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Real Estate

U.S. homebuilding activity increased across the board to a 13-year high in December, showing that an apparent recovery in the housing market could gain momentum in 2020 and help support further economic growth.

New housing starts surged nearly 17% in December, to an annual rate of 1.61 million units—the highest level since December 2006 (economists polled by Reuters were expecting an increase of only 1.38 million units).

The housing market appears to be making a comeback, supported by a solid job market and growing optimism among home buyers and builders.
Demand for new homes has recently been fueled by mortgage rates hovering near a three-year low, not to mention a solid labor market which has led to wage gains that give potential homebuyers more money to spend.

Find more information here: https://www.forbes.com/sites/sergeiklebnikov/2020/01/17/us-homebuilding-hits-13-year-high-showing-some-recovery-in-housing-market/#2b86ba8c5890