December 10, 2023

US home construction rises third straight month in December

A sign sits in front of a KB Home construction site, Tuesday, Feb. 2, 2021, in Simi Valley, Calif. The Biden administration is giving state and local governments greater flexibility in spending $350 billion in federal COVID-19 relief funds. The new rules from the U.S. Treasury Department mean many cities and counties no longer have to prove a revenue loss to spend the money more freely. (AP Photo/Mark J. Terrill, File)

SILVER SPRING, Md. (AP) — Construction of new homes in the U.S. rose again in December as builders ramp up projects amid a persistent shortage of homes.

The December increase puts home construction at a seasonally adjusted annual rate of 1.70 million units, the Commerce Department reported Wednesday, the third consecutive monthly gain.

Applications for building permits, which can forecast future building activity, rose a whopping 9.1% to a seasonally-adjusted rate of 1.87 million units.

Both starts and permits topped expectations. Analysts surveyed by FactSet were expecting 1.65 million starts and 1.70 million permit applications.

7 Cyclical Stocks That Make Sense In a Volatile Market

Despite many predictions of an imminent, and possibly severe, market correction, 2021 has been a great year for investors. And that’s particularly true for investors who invested in cyclical stocks. This group of stocks was hit hard as the economy ground to a halt. This makes sense because cyclical stocks move in the direction of the broader economy.

But that’s also why, almost immediately, many of these stocks began to come back. And with the economy reopening, these stocks continue to show strength.

Cyclical stocks are commonly dividend into companies that manufacture durable goods, non-durable goods, or deliver services. At any given time, one or more of these sectors has outperformed others. But for the most part investors that bought into cyclical stocks continue to be rewarded.

In this presentation, we’ll take a look at seven cyclical stocks that are proving to be resilient even as the market continues to baffle even the most experienced investors.

View the “7 Cyclical Stocks That Make Sense In a Volatile Market”.

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