Housing Starts Under Pressure: New-Home Construction Declines Significantly
Friday, 16 August 2024, 12:42
Housing Starts Decline in July
The most recent data from the Commerce Department indicates a 6.8% drop in new-home construction during July, highlighting the challenging environment for homebuilders.
Impact on Homebuilders
This decline in housing starts is significant and may influence future building permits and mortgage rates, ultimately affecting home prices.
Current Economic Indicators
- Single-family starts are on the decline.
- Multifamily starts also contributed to the downturn.
- Building permits showed a similar downward trend.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.