U.S. homebuilding activity increased across the board to a 13-year high in December, showing some recovery in the housing market by skleb1234
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, ReutersThe housing market appears to be making a comeback, supported by a solid job market and growing optimism among home buyers and builders., not to mention a solid labor market which has led to wage gains that give potential homebuyers more money to spend.from multiyear highs: The 30-year fixed mortgage rate has dropped from its peak of 4.
On a year-over-year basis, housing starts were up just over 40% in December, while homebuilding in 2019 overall was up 3.2% compared to the year prior.Crucial statistics: The housing market makes up more than 3% of the U.S. economy, according to Reuters. Investment in the housing market rebounded last quarter, after contracting for six straight quarters, which was theThe largest share of the housing market, single-family homebuilding, rose 11% in December to the highest level since June 2007.
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