The latest residential housing market report, delayed by the federal government shutdown last fall, indicates that builders have faced significant headwinds in recent months. Elevated mortgage rates earlier in the
Challenging affordability conditions continue to act as headwinds for the housing industry, but the sector could see lower interest rates in the near future with the Federal Reserve expected to cut
Single-family housing starts posted a modest gain in July as builders continue to contend with challenging housing affordability conditions and a host of supply-side headwinds, including labor shortages, elevated construction
Despite persistently high mortgage rates, elevated financing costs for builders, and a shortage of buildable lots, single-family starts rebounded in 2024, following two straight years of declines. According to the
A sharp decline in multifamily production pushed overall housing starts down in May, while single-family output was essentially flat due to economic and tariff uncertainty along with elevated interest rates.
Economic uncertainty stemming from tariff issues, elevated mortgage rates and rising building material costs pushed single-family housing starts lower in April. Overall housing starts increased 1.6% in April to a
Constrained housing affordability conditions due to elevated interest rates, rising construction costs and labor shortages led to a reduction in housing production in March. Overall housing starts decreased 11.4% in
Limited existing inventory helped single-family starts to post a solid gain in February, but builders are still grappling with elevated construction costs stemming from tariff issues and persistent shortages related
Constrained housing affordability conditions due to ongoing, elevated interest rates led to a reduction in single-family production to start the new year. Overall housing starts decreased 9.8% in January to
Fueled by solid demand, single-family construction moved higher in December despite several headwinds facing the industry, including high mortgage rates, elevated financing costs for builders and a lack of buildable
Ongoing lean levels of single-family existing home inventory helped to boost single-family production in November, while overall housing production fell because of a double-digit percentage drop in multifamily construction. Overall
Housing starts edged lower last month as average monthly mortgage rates increased a quarter-point from 6.18% to 6.43% between September and October, according to Freddie Mac. Overall housing starts decreased
Single-family starts posted a solid gain in August on robust demand and moderating mortgage rates even as builders continue to grapple with challenges related to lot and labor shortages and
High interest rates for construction and development loans as well as ongoing challenges regarding labor shortages and higher prices for many building materials continued to slow the building market this
Elevated interest rates for home mortgages and construction and development loans kept single-family production and demand in check during June. Overall housing starts increased 3.0% in June to a seasonally
New single-family starts have trended higher since 2012, reaching a post-pandemic peak of 1,133,145 units in 2021. During 2022 and 2023, elevated housing prices and persistently high mortgage rates have
Single-family and multifamily housing starts fell in May as high interest rates for construction and development loans and elevated mortgage rates held back both housing supply and demand. Overall housing
Single-family starts remained flat in April as mortgage interest rates moved above 7% last month and builders continued to face tight lending conditions. Overall housing starts increased 5.7% in April