Led by solid gains in single-family housing production, nationwide housing starts rose 4.4% to a seasonally adjusted annual rate of 1.089 million units in December, according to data from the U.S. Commerce Department. For the year, overall housing starts topped 1 million units.
“Today’s figures continue to be in line with our recent surveys, as builders have been becoming increasingly optimistic,” said Kevin Kelly, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Wilmington, Del.