Construction of new homes in the US fell for the first time in four months in December, dragged down by a drop in single-family home building. Residential starts decreased 4.3% last month to a 1.46 million annualized rate, government data showed Thursday. Single-family home construction fell by the most since July 2022, following a surge in November, while multifamily projects rose to a five-month high. Building permits, which indicate future construction, increased to a 1.50 million pace. Applications for one-family homes rose to the strongest pace since May 2022, and multifamily authorizations edged higher, the ... (full story)