Housing starts in June reached a 1.174 million annual starts pace, the NAHB reports. A big chunk of this growth was driven by the multifamily sector.
Estimates published jointly by the Census Bureau and HUD report that single-family starts “were effectively flat, recording a 0.9 percent monthly decline.”
The NAHB expects single-family construction starts to grow modestly. Lack of building lots and limited labor will be strong headwinds in some markets.