Here are three charts that illustrate the upward trajectory of residential construction. 

Housing starts finished 2020 on a high note: up 5.8% to seasonally adjusted annual rate of 1,669,000 in December, according to the Census Bureau's tally. The estimated 1.38-plus million homes started in 2020 is 7% above the 2019 figure of 1.29 million.

Since the beginning of this century, housing starts have had dramatic ups and downs. The estimated figure for 2020 shows a clear trajectory for growth, but still a far cry from the peak. 

In November, HBSDealer reported that single-family starts achieved the highest annual rate since 2007. The seasonally adjusted rate for December extends that streak all the way back to September of 2006.