Construction on New Homes Fell Thirteen and a Half Percent From Last Year Even as Builders Pulled More Permits Than Expected, a Split That Economists Say Signals a Confusing Fall for Housing
Construction on new homes fell 13.5% year-over-year in July to a seasonally adjusted annual rate of 1,239,000 units, even as builders pulled 5.0% more permits than the month before, according to the Census Bureau’s New Residential Construction report. The gap between falling starts and rising permits has left economists describing the fall housing outlook as … Read more