Single-family starts dropped for the fourth consecutive month in October to a 15-month low. But we expect starts will soon turn the corner. New home demand is strong, lumber prices have eased back and homebuilder confidence has recovered to a six-month high. Indeed, single-family permits saw their largest gain since March. That said, other material and labour shortages remain, and the improvement in starts will be slow. We expect a rise from 1.04m annualised today to around 1.15m by end-2022.
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