US single-family housing starts rebound in August; building permits fall
Single-family permits also fell 1.8% as higher mortgage rates and borrowing costs continued to weigh on builder sentiment, the Census Bureau said.
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Lack of labour, high prices of construction materials and high tariff rates are affecting the sector
US single-family housing starts rebound in August; building permits fall
US single-family homebuilding increased in August, but a drop in permits for future construction suggested the improvement was likely temporary as rising inflation because of the war in the Middle East boosts mortgage rates.
Housing Starts? More Like Stops as New Construction Declines in August
U.S. housing starts dipped in August, though single-family construction was up, while building permits and completions both declined, according to the U.S. Census Bureau and Department of Housing and Urban Development in its latest report on residential construction. Privately owned housing units authorized by building permits in August were at a seasonally adjusted annual rate…
The number of building permits issued in the United States rose year-on-year in August but fell month-on-month, reflecting continued pressure on the US housing market, according to official data released Thursday. What does this mean? The data indicates that rising mortgage interest rates in the US, coupled with escalating construction costs due to the war, are contributing to the decline. [The article "US Building Permits Rise Year-on-Year but …
Single-Family Housing Starts Rebound as Permits Fall
Single-family housing starts rebounded 7.6% in August, but permits fell and multifamily construction plunged, leaving a mixed outlook for U.S. homebuilding after the Federal Reserve's first rate hike since 2023. Continue Reading Single-Family Housing Starts Rebound 7.6%, but Permits Point to Trouble Ahead
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