19 Jan 2013

Rebound in new US houses

5:01 pm on 19 January 2013

Construction of new houses rebounded in the United States in December, capping a year of recovery in the sector since the 2008-09 recession.

The Commerce Department said on Thursday that housing starts grew to an annual pace of 954,000 units last month, rebounding from 851,000 in November.

AAP reports the annual pace has picked up from 754,000 units at mid-year 2012 and 697,000 units in December 2011.

The actual number of houses started in 2012 was estimated by the department at 780,000, 28.1% higher than 2011.