Reported about 2 months ago
The latest housing starts report reveals a significant decline in privately owned housing starts, dropping 6.8% from June and 16% from the previous year, with single-family units taking the most hit. However, housing completions showed a slight increase, raising concern for long-term market dynamics despite more inventory potentially easing immediate housing shortages. The number of building permits also fell, indicating a slowdown in construction activity ahead.
Source: YAHOO