Building permits for multifamily units have plunged 27.1 percent from their pandemic-era highs, with new rentals now hitting the market at the slowest pace on record, according to Redfin
Housing starts fell 11.4% in March, a modest improvement from 2024, according to Census data released Thursday, with 1 economist describing the slump as 'well below consensus expectations'
Rising interest rates and market saturation have caused multifamily builders to slow the rate of new projects, according to a Redfin report published on Tuesday
Construction starts on new housing units dropped 5.5% to a seasonally adjusted annual rate of 1,277,000 — 19.3% lower than levels in May 2023, according to US Census data released Thursday
J. Michael Issa of B. Riley Financial is alleging in a lawsuit filed in LA Superior Court last month that the city reneged on its word that permits on the property's building site were still active
Housing starts rose 1.9% from September to reach a seasonally adjusted annual rate of 1.372M
In August, housing starts hit their lowest level since June 2020, when builders were struggling with COVID-fueled 'shutdowns, labor shortages and supply chain issues,' according to US Census data
The decline in starts came as Omicron cases surged across the US and wintry weather hampered builders' progress, according to data Thursday from the US Census Bureau and HUD
Last week, the city council voted unanimously to put a moratorium on all new construction and short-term rental permits, in an effort to combat the city's increasing lack of affordable housing
Privately owned housing starts dipped 0.7% in October while single-family housing starts dropped 3.9%, according to US Census Bureau residential construction data
Privately owned housing starts beat expectations in August while single-family starts declined by nearly 3%, according to data issued Tuesday by the US Census Bureau
Despite a decline in starts, which reflected curbed confidence in June amid mellowing lumber prices, experts said gains made in permit applications were a positive sign
The increase in housing starts is a welcome gift, but experts say builders aren't yet betting recent improvements in materials costs are here to stay for the long term
Opinion
Looking for a little clarity on the news? Windermere Chief Economist Matthew Gardner dives into recent housing data releases and predicts how the market will fare
Opinion
Looking for a little clarity on the news? Windermere Chief Economist Matthew Gardner dives into recent housing data releases and predicts how the market will fare