U.S. Housing Starts Reach Highest Level in More Than a Year

U.S. new-home construction rose in January to the highest level since October 2016, helped by a surge in apartment building, as momentum in the housing market continues into 2018, government figures showed Friday.

The results are a positive sign that homebuilding will continue its advance after the best year for new construction in a decade. Demand is expected to be supported by steady hiring and elevated confidence to make big purchases.