Housing Starts Up In December

Homebuilders began construction on new homes in December at the fastest pace since summer 2008, and 2012 turned out to be the best year for residential construction since the housing crisis began. Raleigh (along with Austin and Houston, Texas) showed the highest construction activity in the country. In 2012 the number of housing starts was up more than 28% over 2011, and was the highest since 2008. Fueling this growth is the improved jobs outlook, as well as the shortage of homes on the market; based on November’s sales pace the national supply of homes is under 5 months, down 23% from a year ago. To see the complete analysis visit USAToday.