Building permits rise year-over-year, signaling growth, while a significant decline in housing starts and completions points to ongoing challenges and market volatility.
Report shows 18% month-over-month increase in single-family housing starts.
October sees a mixed bag for the housing sector, with a rise in building permits and pending sales but a decline in completions and closed home sales.
Building permits dip, but housing starts and completions show promising growth, highlighting the ever-evolving nature of the real estate sector.
Decline a surprise following report of growth in builder confidence.
Permits, completions also rise as market enters 'prime season'
Increase 2.2% from March, but number of units under construction not enough to fill inventory void.
Starts down 0.8% from February and down 17% from a year earlier.
Supply, labor, and cost issues hamper construction of new homes.
2022 posts 3% YOY decline, the first overall drop since 2009.