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.
