January Home Starts Reach 21-Year High

Housing starts jumped 4.7 percent in January to a seasonally adjusted annual rate of 2.159 million units, the highest pace in 21 years, the U.S. Commerce Department reported. January’s housing starts also were 11.6 percent above the pace of a year ago.

The pace of single-family home construction reached an all-time high of 1.76 million units. This was 2.7 percent above the December rate and 12.5 percent above January 2004.

“Builders are striving to keep up with demand, and wit

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