Housing starts and permits changed in every category last month, driven by extreme weather and rising rates. Overall starts slipped 3.1% last month to their slowest pace in three months, according to new data from the U.S. Census Bureau. Year-over-year, they declined 4%. Single-family construction fell by 6.9%, overriding a small September increase, while multi-family…
Housing construction slid again in November as inflationary pressure and high rates kept demand down. Residential starts fell 0.5% from October to an annualized rate of 1.43 million, down 16.4% from the same time last year, according to data from the U.S. Census Bureau. This is the third consecutive decline for these data. Economists surveyed…
Homebuilding plummeted in July as both homebuyers and sellers continue to lose confidence in the market. Housing starts fell by a shocking 9.6% to a seasonally adjusted annual rate of 1.446 million units last month, according to new data released by the Commerce Department. This is their lowest rate since February 2021 and significantly below…
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