Builders broke ground in January on the most U.S. single-family homes in more than four years and permits for future construction rose, an indication the industry’s momentum carried over into 2013.
Work began on 613,000 one-family houses at an annual rate last month, the most since July 2008 and up 0.8 percent from December’s 608,000, Commerce Department figures showed Wednesday in Washington. Total housing starts dropped to a 890,000 rate, less than forecast and restrained by a slump in construction of multifamily units, which is often volatile.
