Construction spending in the U.S. single-family homes up 21.6% in December

Spending on construction of houses in the U.S. in December rose 3.4 % from the previous month and 21.6 % over December 2012 , according to the Commerce Department. More than two -thirds of the residential construction market comes from family homes .

The total construction spending in the country rose 0.1 % in December and reached an annual rate of 930 500 million, led by private sector projects .

After an increase of 0.8 % in November , most analysts had estimated for December increased 0.4%.

Spending on private construction rose 0.4% this month , up from 2.6 % in residential project and reached an annual rate of 352,600 million.

There was , however , a decrease of 0.7 % in non- residential projects such as shopping malls , hotels and office buildings . This sector activity has declined by 1.7 % compared to December 2012.

Spending on public construction, in turn , fell 2.3% in December. That month, the construction of apartments and condominiums rose 0.5 % and grew by 27.3 % in one year.

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