Both single and multifamily housing starts recorded substantial declines in June. The fall of 12.3% m/m in total starts was the largest month-on-month drop since the end of 2016. Building permits were also subdued. Concerns about over-capacity may be contributing to reduced multifamily construction, while single-family builders are having to contend with high lumber prices and faltering housing demand.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services