Reported about 1 year ago
In May, housing starts in the U.S. fell by 19.3%, with the single-family and multifamily sectors both showing declines. Builder confidence also dropped as higher mortgage rates and other challenges persist. Despite an increase in home completions, the market is facing issues like high mortgage rates, shortages, and an increase in inventory. Home prices are being cut, and sales incentives are on the rise, indicating a challenging market for builders.
Source: YAHOO