Economic TimesLean R·
US single-family housing starts slide in July
The U.S. witnessed a notable decline in single-family homebuilding last month, primarily due to elevated mortgage rates. An increase in unsold new homes exacerbated this downturn. However, there was a slight uptick in permits for future construction of single-family homes. The overall new residential construction permits also saw an increase. The housing market continues to grapple with affordability concerns and supply constraints.
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