Morning Minute: New housing construction at four-year high

U.S. housing starts climbed 12.1 percent in December, the highest levels in more than four years, according to a new report from the Commerce Department. Builders began construction of single-family homes and apartments at a seasonally adjusted annual rate of 954,000, the fastest pace since 2008, USA Today reports in the article, “Housing starts jump in December.”

“Construction joined the housing recovery in 2012,” as builders bet on markets with strong job growth and low vacancy rates, Jed Kolko, an economist with real estate website Trulia, told USA Today.

In other news:

CFPB launches national mortgage servicing rulesHousingWire

Dual-Track Foreclosures Limited Under U.S. Consumer Bureau RulesBloomberg

Brokers see new interest in commercial propertiesKane County Chronicle

 

 

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.