Housing Starts Decline to Two-Year Low in December

U.S. new-home construction in December fell to the lowest since September 2016, as builders held back during a turbulent month for financial markets. Residential starts fell 11.2% to a 1.08 million annualized rate after a downwardly revised 1.21 million pace in the prior month, according to government figures Feb. 26 that missed all forecasts.