New US Home Construction in April Beats Forecasts

WASHINGTON — U.S. builders started work on homes in December at the fastest pace since the summer of 2008 and finished 2012 as their best year for residential construction since the early stages of the housing crisis. The Commerce Department said Thursday that builders broke ground on houses and apartments at a seasonally adjusted annual rate of 954,000. That’s 12.1 percent higher than November’s annual rate and nearly double the recession low reached in April 2009. For the year, builders started work on 780,000 homes.

WASHINGTON — U.S. builders started work on homes in December at the fastest pace since the summer of 2008 and finished 2012 as their best year for residential construction since the early stages of the housing crisis. The Commerce Department said Thursday that builders broke ground on houses and apartments at a seasonally adjusted annual rate of 954,000. That’s 12.1 percent higher than November’s annual rate and nearly double the recession low reached in April 2009. For the year, builders started work on 780,000 homes.