U.S. new home construction sees 4.4% increase in December


Construction of new homes rebounded in December in the United States, reports The Associated Press.

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Last month, builders started construction at a seasonally adjusted annual rate of 1.09 million, an increase of 4.4% from November when unusually severe weather pushed activity down a revised 4.5 percent, the Commerce Department reported.

For all of 2014, builders started construction on 1.01 million new homes and apartments, an increase of 8.8% from 2013. It was the first time construction has topped 1 million since the height of the housing boom in 2005, when builders started work on 2.07 million homes.

Construction activity plunged to 587,000 in 2010 and has been making a slow recovery since then.

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