Real Estate

Builders pull back as more homebuyers are priced out of the market

0


Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021.

Mike Blake | Reuters

There are several signs in the market for newly built homes that point to a potential slowdown for the nation’s homebuilders.

Data released Tuesday added to the evidence that builders are pulling back.

Single family housing starts continued to rise in June, many of those for homes already sold. But building permits, an indicator of future construction, fell more than expected last month to the lowest point since August and were about 100,000 units below the six-month average, according to the U.S. Census Bureau.

“The single…



Source cnbc.com

0 0 votes
Article Rating

GM hires Nio and Lyft executives; Stellantis poaches Amazon VP

Previous article

Yellen sees ‘several more months of rapid inflation’ before easing, worries about housing impact

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Real Estate