The Commerce Department reported that housing construction...

The Commerce Department reported that housing construction posted its biggest gain in nearly a year during January, but analysts said the surge was due more to unusually mild weather than an upturn in the market. Construction of new homes and apartments was up 8% in January to a seasonally adjusted annual rate of 1.69 million units after inching up just 0.1% during December, the department reported. It was the biggest monthly increase since an 8.6% rise in February, 1988, and placed housing activity at its highest level since the March, 1987, annual rate of 1.72 million units. Single-family homes were built in January at a seasonally adjusted annual rate of 1.2 million units, the highest since September, 1987, when the rate was 1.23 million. January’s figure was up 7.1% from December.