Housing market: U.S. home construction jumps 9.7% in January

WASHINGTON — Groundbreakings on new homes jumped 9.7% last month to the highest level since October 2016, welcome news for a housing market struggling with a shortage of homes for sale. The Commerce Department said Friday that housing starts came in at an annual pace of 1.33 million in January, up from 1.21 million in December and 1.24 million in January 2017. Construction of single-family homes rose 3.7%. Construction of apartments and condominiums shot up 19.7%, the most since December 2016.

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Source: USA Today