WASHINGTON — Groundbreakings on new homes jumped 9.7 per cent last month to the highest level since October 2016, welcome news for a housing market struggling with a shortage of homes for sale. Construction of single-family homes rose 3.7 per cent. Construction of apartments and condominiums shot up 19.7 per cent, the most since December 2016. Home construction soared 45.5 per cent in the Northeast, rose 10.7 per cent in the West and grew 9.3 per cent in the South. Building permits, an indicator of future construction, rose 7.4 per cent in January.

Source: National Post February 16, 2018 13:34 UTC