Reported 2 days ago
U.S. single-family homebuilding faced a significant decline in January due to severe winter weather and tariffs affecting construction costs. The Commerce Department reported an 8.4% drop in housing starts, with increased tariffs on imports adding to building expenses amid high mortgage rates. Although there was a surge in homebuilding in the West, overall housing activity is expected to remain sluggish as builders grapple with financial constraints and immigration-related challenges.
Source: YAHOO