Warm January Heats Up Resi Construction

A temporary sag in interest rates and the warmest January on record nationwide combined to bring about a 14.5 percent surge in new home construction for the month, the U.S. Commerce Department reported.

The January pace of new-home construction rose to a seasonally adjusted annual rate of 2.276 million units, the highest on record since 1973. The pace was 4.0 percent above a year ago.

Single-family housing starts rose 12.8 percent to a new record pace of 1.819 million units fo

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