Housing Starts Surge in December
Washington, DC, Jan. 17, 2013 -- Builders in December broke ground on homes at the fastest pace since the summer of 2008, according to the Commerce Department.
Permits for construction also edged up to 903,000.
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In addition, 2012 finished as the best year for residential construction since the housing crisis began.
The Commerce Department said that builders started houses and apartments at a seasonally adjusted annual rate of 954,000. That's 12.1% higher than November's annual rate and nearly double the recession low of April 2009.
For the year, builders started work on 780,000 homes, an increase of 28.1% from the 608,800 homes started in 2011.