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U.S. home construction hits highest pace in 5 years

By The Associated Press

This article was published December 18, 2013 at 7:43 a.m.

WASHINGTON — U.S. builders broke ground on homes at the fastest pace in more than five years, evidence the housing recovery is accelerating despite higher mortgage rates.

The Commerce Department said Wednesday that developers began construction on houses and apartments in November at a seasonally adjusted annual rate of 1.09 million. That's the fastest pace since February 2008, just a few months after the recession began.

Read tomorrow's Arkansas Democrat-Gazette for full details.

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