Builder confidence plunged in July as high inflation and increased interest rates stalled the housing market by dramatically slowing sales, buyer traffic and housing starts according to new data.
Severe winter weather in much of the country and spiking lumber prices pushed home construction down a sharp 10.3 percent in February while applications for new construction fell by 10.8 percent.
While most New England states are losing population, New Hampshire has continued its trend of modest gains, according to the latest U.S. Census Bureau estimates.
U.S. home construction rose a solid 1.9 percent in September after having fallen in the previous month, as home building continues as one of the bright spots of the economy.
Despite the uncertain fallout for the housing market, one thing is not likely to change: The Bay State’s dubious title as one of the most expensive places in the country to buy a home or condominium.
Building permits in Massachusetts saw a steep decline in December 2018 compared to December 2017, according to new data from the U.S. Census Bureau.
U.S. homebuilding fell to a one-year low in September as Hurricanes Harvey and Irma disrupted the construction of single-family homes in the South, suggesting that housing probably remained a drag on economic growth in the third quarter.
U.S. homebuilding fell for a second straight month in August as a rebound in the construction of single-family houses was offset by persistent weakness in the volatile multifamily home segment.
U.S. homebuilding unexpectedly fell in April amid a persistent decline in the construction of multifamily housing units and a modest rebound in single-family projects, pointing to a slowdown in the housing market recovery.
U.S. homebuilding fell more than expected in March as the construction of single-family homes in the Midwest recorded its biggest decline in three years, but an increase in building permits suggested the housing market recovery remained intact.
U.S. homebuilding fell in January as the construction of multifamily housing projects dropped, but upward revisions to the prior month’s data and a jump in permits to a one-year high suggested the housing recovery remained on track.
U.S. homebuilding fell more than expected in November, tumbling from a nine-year high as construction activity declined broadly, which could prompt further downward revisions to fourth-quarter economic growth estimates.
U.S. housing starts surged to a more than nine-year high in October as builders ramped up construction of both single and multifamily homes, offering hope that housing will contribute to economic growth in the fourth quarter.
U.S. housing starts fell more than expected in August as building activity declined broadly after two straight months of solid increases, but a rebound in permits for single-family dwellings suggested demand for housing remained intact.
U.S. housing starts unexpectedly rose in July as building activity increased across the board, supporting the view that investment in residential construction will rebound after slumping in the second quarter.