US home construction jumps 5.8% in December to 1.67M

U.S. home construction jumped 5.8% in December to 1.67 million units, ending a strong year for home building.

The better-than-expected gain followed an increase of 9.8% in November, the Commerce Department reported Thursday.

Housing was one of the star performers last year even as the overall economy was wracked by the coronavirus. Record-low mortgage rates and the desire of many people to move to larger homes during the extended stay-at-home period have fueled demand.

For December, construction of single-family homes increased 12%.