Single-Family Starts Edge Higher in July but Rising Rate Concerns Persist : Industry News and Updates
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Single-Family Starts Edge Higher in July but Rising Rate Concerns Persist

by HBA of North Georgia on 08/21/23

A lack of existing inventory and solid demand for housing helped offset rising mortgage rates and push single-family production higher in July, even as builders continue to grapple with elevated construction and financing costs as well as a lack of skilled labor.

Overall housing starts increased 3.9% to a seasonally adjusted annual rate of 1.45 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.....

A lack of existing inventory and solid demand for housing helped offset rising mortgage rates and push single-family production higher in July, even as builders continue to grapple with elevated construction and financing costs as well as a lack of skilled labor.

Overall housing starts increased 3.9% to a seasonally adjusted annual rate of 1.45 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

Read full story at NAHB site. HERE!

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