Tag: the Commerce Department

US housing starts hit 18-month lows

Construction of new US homes hit 18-month lows in July, according to Commerce Department data on Tuesday that suggested that interest rate hikes by the Federal Reserve were boosting mortgage rates that in turn were strangling the property...

U.S. home construction jumps 11.8% in November

U.S. homebuilding surged to an eight-month high in November 2021 amid an acute shortage of properties on the market, though higher prices for raw materials and labor shortages remain a constraint. Housing starts increased 11.8% to a seasonally...

U.S. housing starts increased sharply in November 2020

U.S. homebuilding and permits increased solidly in November 2020, pointing to sustained housing market strength even as the broader economic recovery is slowing amid a resurgence in new COVID-19 cases and lack of additional government money. Housing starts...