Aug
16
U.S. Housing Starts Fell in July on Apartment Building Slowdown
ByU.S. housing starts stumbled in July on an abrupt slowdown in apartment construction and a modest decline in single-family homebuilding that shows the industry will do little to spur the economy, Commerce Department data showed Wednesday.
HIGHLIGHTS FROM HOUSING STARTS (JULY) |
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Key Takeaways
Despite overall starts being weighed down by less apartment construction, ground-breaking on single-family properties has declined in four of the last five months. That indicates little support for the economy. While staying close to an almost 10-year high, the pace of one-family homebuilding is being held back by labor and lot shortages, according to construction firms…
U.S. Housing Starts Fell in July on Apartment Building Slowdown
