2023-07-19 13:48:00
New home construction in the United States declined in June following rising the previous month, at a pace that indicates construction companies are working to fill the void left by low home inventory on the resale market.
Mortgage rates in the United States rose to the highest since March
Los Residential starts fell 8% last month at an annualized rate of 1.43 million, according to government data released Wednesday. The median estimate in a Bloomberg survey of economists was for a pace of 1.48 million.
Las Construction applications — a benchmark for future construction — fell 3.7% at an annualized rate of 1.44 million units. However, permits to build single-family homes increased to a maximum of one year.
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