Single-family housing starts fell by a sizeable 8.1% m/m in June, following a 9.0% m/m drop in May. With rising mortgage rates continuing to weigh on demand, homebuilder confidence plummeted in July. This points to a further decline in starts which we think will end the year at around 850,000 annualised.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.