December Housing Starts Up 4.5 pct

December Housing Starts Up 4.5 pct

 

The latest government report showed that the pace of U.S. home construction climbed 4.5 percent in December, a second-straight monthly increase that ran contrary to analyst expectations, but for all of 2006 the rate of new home building posted the biggest decline in 15 years.

 

The Commerce Department said housing starts closed out the year at an annual pace of 1.642 million units in December compared to 1.572 million units in November.

 

Economists had forecast December housing starts to fall to 1.560 million units from November's originally reported pace of 1.588 million units.

 

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