Construction of new homes in the United States surged by a prediction-beating 22.6 percent last month as homebuilders continue their rebound from the COVID-induced slowdown and reinforcing the view that America’s housing market is a rare bright spot in the economic crisis triggered by the outbreak.
The Commerce Department reported Tuesday that new homes were started at an annual pace of 1.496 million in July, a sharp increase over June’s figure of 1.22 million and 23.4 percent higher than the July 2019 pace of 1.212 million.
