Skip to Content
View site list

Profile

Pre-Bid Projects

Pre-Bid Projects

Click here to see Canada’s most comprehensive listing of projects in conceptual and planning stages

Associations, Projects, US News

Housing construction slumps seven per cent in July to 1.53 million units

The Associated Press
Housing construction slumps seven per cent in July to 1.53 million units

WASHINGTON—Home construction fell a sharp seven per cent in July as homebuilders struggled to cope with a variety of headwinds.

The decline in July put home construction at a seasonally adjusted annual rate of 1.53 million units, the Commerce Department reported.

Applications for building permits, which can forecast future activity, rose 2.6% in July from the June level to an annual rate of 1.64 million units.

A survey of homebuilder confidence saw expectations fall sharply in August to the lowest level in a year as builders struggled with high construction costs, supply shortages and rising home prices.

The National Association of Home Builders/Wells Fargo said its survey dropped five points to a reading of 75 this month.

Recent Comments

comments for this post are closed

You might also like