The housing market started the year adjusting to high mortgage rates, but unusual weather disruptions contributed to a drop in building permits and housing starts in January. Despite a 9.8% decrease in housing starts, completed homes increased by 7.6%, indicating a positive sign for a market struggling with inventory shortages. However, builders face uncertainty due to fluctuating tariff policies from the Trump administration, which has led to a decline in the National Association of Home Builders sentiment index, emphasizing the impact of trade tensions on the industry.
"Builders are slowly adapting to the higher-for-longer mortgage rate environment, but unusual weather disruptions may have contributed to the January pullback in housing activity."
"Building permits and housing starts data might foreshadow a drop in housing completions and new-home inventory, despite housing completions increasing by 7.6% from December."
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