Surge in construction could lift economy
U.S. home construction is making a comeback that could invigorate the economy’s still-weak recovery.
Builders last month started construction on single-family houses and apartments at the fastest rate in more than four years, the Commerce Department said Wednesday. And they laid plans to build homes at an even faster pace in coming months – a signal of their confidence that the housing rebound will last.
The pace of construction has grown steadily in the past year, and analysts expect it to keep rising.
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