Wall Street Lunch: Home Building Activity Takes A Hit In May

Wall Street Lunch: Home Building Activity Takes A Hit In May

Homebuilding Slumps in May as Fed Interest Rate Policy Weighs on Construction

Housing starts declined 9.8 percent in May to the slowest pace since the pandemic-striken June 2020.

May Housing Starts Fall to Five-Year Low - The MortgagePoint

Economic uncertainty and higher mortgage rates are just some of the factors forcing home builders to reduce home prices for would-be buyers as construction permits and housing starts drop to pandemic-era lows.

May home construction activity declines from May 2024 - Home News Now

Housing completions were a bright spot, up 5.4% from April WASHINGTON —Housing construction activity was down again in May compared to a year ago, reflecting an ongoing slowdown in housing permits, housing starts and housing completions. Data released Wednesday by the U.S. Department of Commerce showed that building permits for privately owned housing units totaled 1,393,000 down 1% from 1,407,000 in May 2024, and down 2% from the revised April …

Housing Starts Plunge 9.8% in May, Hitting Five-Year Low

Housing starts fell significantly in May, as the residential construction sector continued to grapple with high material costs, persistent labor shortages and slowing demand from homebuyers. In the latest report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, new housing starts were down 9.8% from April to a seasonally… The post Housing Starts Plunge 9.8% in May, Hitting Five-Year Low appeared first on RISMe…