New Housing Construction Stalls!

Posted: January 18, 2018 | Source: www.cnbc.com

According to a report from the U.S. Commerce Department, new home construction in December fell to its lowest level since November 2016. Despite the disappointing December figures, home building in 2017 increased to its highest numbers since 2007. The reduction was mainly due to single-family homes and is expected to rebound quickly to an almost 1.2 million annual rate.