Single-family housing starts fell back in June after four straight monthly gains as elevated construction costs and rising mortgage rates led to a reduction in home building activity and affordability conditions worsened for home buyers. It takes 400 tons of aggregates to construct the average modern home, according to the National Stone, Sand & Gravel Association. Overall housing in June decreased…
Read MoreTag: multifamily sector
Housing Permits Decline in March
The single-family housing market continued to show signs of softening in March as permits and starts declined due to rising mortgage interest rates and ongoing supply chain bottlenecks that continue to delay construction projects and raise home building costs. Due to strong multifamily production, overall housing starts increased 0.3% to a seasonally adjusted annual rate of 1.79 million units, according…
Read MoreSingle-Family Housing Up Again in October
Single-family housing production in October reached its highest level since November 2013 while the more volatile multifamily sector brought combined nationwide starts activity down 2.8 percent to a seasonally adjusted annual rate of 1.009 million units, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Read More