Report shows 18% month-over-month increase in single-family housing starts.
Construction
Multiple challenges plague builders: soaring costs, labor shortage, and dearth of buildable land, even as permit data offers hope.
Demand increases based on existing homeowners staying put.
Seven months of optimism ends due to pessimism on high mortgage rates and construction costs.
Home builders' Zillow listings will be syndicated to Redfin for expanded visibility.
Organization says nearly 1 in 5 construction workers battle addiction.
But it focuses on housing supply, not buyers as it should
NAHB/Wells Fargo Housing Market Index fell two points in June to 67, the lowest HMI reading since June 2020.
The letter cites rapidly rising interest rates, rising home prices and rents, and the rising cost of lumber and building materials for significantly decreasing housing affordability.
Prices increased 20.4% annually and have risen 33% since the start of the pandemic.