After a disappointing May, new home construction ticked higher in June as Housing Starts and Building Permits both came in above estimates. However, the increase was led by a boost in multi-family projects, as starts and permits for single-family homes both moved lower.
What’s the bottom line? Softer than expected construction activity this spring could limit much needed supply down the road, especially among single-family homes. This bodes well for appreciation and shows that opportunities remain to build wealth through homeownership.
