Dive Brief:
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Homebuilders broke ground on more new homes in 2014 than in 2013, the U.S. Census Bureau said on Tuesday. Builders also reported 4.4% more housing starts in December than in November, the government data showed.
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This is the strongest showing for housing starts since 2007.
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Also, the number of building permits issued in December for new homes bumped up to 4.5% in December. That increase is a good sign for housing starts in the near future.
Dive Insight:
During a roller-coaster year for housing starts, multifamily building got much of the credit for keeping the industry afloat. However, it was single-family housing starts that brought the year to its strong close for builders.
Single-family housing starts totaled 728,000 in December, while multifamily starts held at 339,000, according to Census data.