CONSTRUCTION of new US homes rebounded in December, the Commerce Department says, capping a year of strong recovery in the industry.
Housing starts grew to an annual pace of 954,000 units last month, rebounding from November's 851,000, which was depressed by the impact of Hurricane Sandy on the densely populated northeastern coastal region.
The annual pace has picked up from 754,000 units at mid-year 2012 and 697,000 units in December 2011.
The actual number of homes started in 2012 was estimated by the department at 780,000, a sharp 28.1 per cent higher than 2011, showing a sustained recovery in the housing sector after the 2008-2009 recession.
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