According to Jinshi Data, the number of single-family home construction starts in the United States fell further in June, but may rebound in the coming months as optimism grows that the Federal Reserve will cut interest rates in September.
Single-family home starts, which account for the bulk of housing construction, fell 2.2% in June to a seasonally adjusted annual rate of 980,000 units, Commerce Department data showed.
Future building permits for single-family homes fell 2.3% to a rate of 934,000 units. Single-family home starts rose 5.4% in June from a year ago. For most of last year and into the first quarter of 2024, homebuilding was strong due to a lack of previously owned homes on the market.
