Homebuilding in the U.S. took a downward turn in July as housing starts declined 4.8 percent, falling short of analyst expectations, the Commerce Department said on Wednesday. Year-over year,
Housing Starts Tumble In July
Homebuilding in the U.S. took a downward turn in July as housing starts declined 4.8 percent, falling short of analyst expectations, the Commerce Department said on Wednesday. Year-over year, housing starts fell 5.6 percent.
Homebuilders broke ground on 1.16 million new residential units instead of the 1.22 million that had been forecast. Despite searing demand for housing, building on new single-family and multi-family homes has slowed — with much of the stall attributed to the lack of skilled laborers available in the workforce and the rising costs of building materials. Building permits, which foreshadow future construction activity, also fell 4.1 percent.
In Dallas-Fort Worth new construction inventory remains high in some areas, particularly those in the northern regions of the Metroplex. Our clients are enjoying the maximum incentives we've been negotiating for them. If you're thinking of building a new home, or buying an inventory home, contact us and let us help you save thousands of dollars. Remember, the builder rep protects the builder's interest, make sure you hire us to protect yours.
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One of the many great benefits to living in North Texas is the ability to have an attractive yard year-round. Although we have incredibly hot summers, we don't often experience extremely cold