flexiblefullpage - default
Currently Reading

U.S. Housing Starts Are Rising, but That May Not Be the Case for Much Longer, Experts Say

Advertisement
billboard - default
New-Construction Projects

U.S. Housing Starts Are Rising, but That May Not Be the Case for Much Longer, Experts Say

Single-family housing starts rebounded in August after falling in July, but a drop in building permits could signal a slowdown in new construction during the fall season


September 21, 2022
New single-family home under construction
Image: Stock.adobe.com

After a steep drop in new housing starts in July, construction rebounded in August, rising a seasonally adjusted 12.2% to 1.58 million, Realtor.com reports. Starts are still well below the 1.81 million level seen in April, but the construction pace of single-family homes rose 3.4% in August, while apartments rose 28.6%.

Single-family construction in the Midwest rose 20.8%, and construction starts also increased in the South, but the Northeast saw a steep drop of 17.3%. Despite small gains in new construction starts, building permits fell 10% in August, signaling a possible slowdown in the months ahead. 

And even the boost in housing starts may be short-lived: In September, builders said they continue to be pessimistic about the near-term, which hints at further declines in the housing sector.

Outside of the pandemic, builder confidence is at the lowest level in eight years.

Depressed buyer demand and rising construction costs have weakened buyer confidence. The sharp rise in rates and high home prices have discouraged buyers, who are finding it hard to afford to purchase.

Read more

Related Stories

Multifamily

Supply Chain Bottlenecks, Rising Interest Rates Hinder New Construction

Unyielding supply chain challenges continued to slow single-family construction in August, but multifamily production surged

Modular Homes

Texas-Based Real Estate Developer Introduces New Modular Plant

Oaxaca Interests recently announced its partnership with award-winning architecture firm Lake|Flato to build custom modular homes in Grand Prairie, Texas

New-Construction Projects

How Much Does New Home Construction Cost in 2022? Here’s a Full Breakdown

It's no surprise that new-home construction costs surged amid a supply-chain storm and a labor shortage mid-pandemic, but just how pricey are new residential projects?

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category




Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.