Housing starts bounced-back in June, and are now down only 4% y/y. A surge in housing demand to 10-year highs, and a lack of existing home inventory, has boosted new home sales and reversed all the COVID-related drop in homebuilder confidence. That implies starts will see further gains, but surging lumber prices and new lockdowns argue against a return to pre-virus levels by the end of the year.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.