Reported 2 days ago
In October, U.S. single-family housing starts fell by 6.9% to an annual rate of 970,000 units, largely impacted by Hurricanes Helene and Milton, which disrupted construction in the South. While building permits saw a slight increase, overall residential investment remains subdued amid ongoing challenges posed by higher mortgage rates and a lack of housing supply, especially for entry-level buyers. The construction sector continues to grapple with the repercussions of inflation and restrictive borrowing costs.
Source: YAHOO