Construction of new single-family homes increased 2.8% in July to a seasonally adjusted annual rate of 939,000, led by a pronounced surge in the South. Single-family building permits edged up 0.5% month-over-month but remained 7.9% below last year, suggesting weaker permit activity year-over-year. New-home sales have been slow, and tariffs have complicated building activities and materials sourcing. Builder confidence softened to a reading of 32 in August, reflecting affordability pressures and cautious sentiment. The combination of regional strength and national headwinds produces an uncertain near-term outlook for homebuilding.
Construction activity on new single-family homes experienced a surprising boost in July, primarily driven by a significant surge in the South region. The U.S. Census Bureau and Department of Housing and Urban Development reported a 2.8% increase in single-family housing starts last month, reaching a seasonally adjusted annual rate of 939,000. Despite this growth, there are mixed signals regarding the future of homebuilding, influenced by various factors such as slow new-home sales, tariffs complicating building activities, and builders' cautious optimism.
Single-family housing starts rose by 2.8% in July, to a rate of 939,000 annually, with the South region leading the growth. Permits for single-family homes increased by 0.5% nationally but declined by 7.9% compared with the previous year, indicating a mixed outlook for future construction. Builder confidence in the market for newly built single-family homes decreased slightly in August to a level of 32, reflecting ongoing challenges in affordability and market sentiment. Multifamily con
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