Reported 8 months ago
Recent housing data shows a decline in construction activity, with housing starts falling 5.5% and building permits decreasing 3.8% month-over-month. Economist Danielle Hale notes that the housing market is currently in an adjustment phase, with a rebound in single-family homes after a period of growth in multi-family construction. Existing homeowners holding onto properties due to low mortgage rates are impacting supply and new home construction in the market.
Source: YAHOO