By Lucia Mutikani
January 17, 2025 – 7:28 AM PST
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WASHINGTON (Reuters) – U.S. single-family homebuilding increased to a 10-month high in December, indicating that construction activity regained some momentum at the end of the year, though rising mortgage rates and a glut of new homes on the market could constrain recovery.
The report from the Commerce Department on Friday also showed permits for future construction of single-family homes rising last month to the highest level since last February. The housing starts and permits data are notoriously volatile. Still, it added to solid December retail sales in suggesting that the economy retained most of its strength in the fourth quarter.
With…