Source: Business Insider
US housing starts soared nearly 17% in December to a 13-year high, according to a Friday release from the Census Bureau. The seasonally adjusted annual rate for home starts reached 1.61 million last month, topping estimates from economists surveyed by Bloomberg and leaping higher from 1.375 million in November. The data signals a continued recovery for the housing market as low mortgage rates and resilient consumer confidence lift construction company’s projections. Visit the Business Insider homepage for more stories . US housing starts spiked 16.9% in December to their highest level in 13 years, according to a Friday Census Bureau release . The seasonally adjusted annual rate for housing starts reached 1.61 million last month, its highest point since December 2006. The positive data suggests continued recovery in the US housing market amid low mortgage rates, historically low unemployment levels , and robust consumer confidence . Total housing starts landed well above estimates from economists surveyed by Bloomberg .