Housing starts fell most in eight months in February

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U.S. new-home groundbreakings fell in February by the most in eight months on a drop in single-family homes, suggesting buyers and builders remain wary despite higher wages and a drop in mortgage rates.

US Housing Starts Fall Led by Single-Family Homes Housing starts in the US fell 8.7 percent from a month earlier to a seasonally adjusted annual rate of 1,162 thousand units in February 2019, following a downwardly revised 11.7 percent surge in January. It was the largest decline in housing starts since last June.

U.S. new-home groundbreakings fell in February by the most in eight months on a drop in single-family homes, suggesting buyers and builders.

Multi family permits fell by 2.9 percent for the month to a rate of 439,000 and are 12.3 percent higher than the previous February. have been 166,400 residential housing starts compared to 181,300.

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Median home affordability an issue in nearly 70% of markets The erosion of affordability and market uncertain-ty, however, are really what’s driving the market. Home prices in California continued to rise in 2018. In May 2018, the statewide median price surpassed its prior peak set in May 2017 and followed up the next month with a new record high of $602,760.

U.S. new-home groundbreakings fell in February bythe most in eight months on a drop in single-family homes,suggesting buyers and builders remain wary despite higher wagesand a drop in mortgage rates. The weakness signals developers continue to struggle to build affordable properties amid rising costs for materials and labor.

U.S. new-home groundbreakings fell in February by the most in eight months on a drop in single-family homes, suggesting buyers and builders.

WASHINGTON (AP) – U.S. housing starts jumped 18.6 percent in January, as builders ramped up construction of single-family houses to the fastest pace in eight. coming months, as that segmented.

U.S. homebuilding fell more than expected in February as construction. The percent decline was the largest in eight months, and bad weather.

U.S. new-home groundbreakings fell in February by the most in eight months on a drop in single-family homes, suggesting buyers and builders.

New-home groundbreakings fell in February by the most in eight months on a drop in single-family homes, suggesting buyers and builders remain wary despite higher wages and a drop in mortgage rates. residential starts fell 8.7% to a 1.16 million annualized rate, below estimates, after an upwardly revised gain the prior month, according to government [.]

Drop in housing starts shows industry may weigh on growth A long rally in the housing market stumbled in 2018 and looks poised to. A record drop in foreign purchases hurt markets in Florida, California, Seattle and New York.. The tax bill that passed in late December 2017 could also weigh on. said he expects single-family housing starts to grow less than 2%,

The drop in housing starts was the biggest in eight months and single-family starts were the lowest they’ve been in two years, according to Tendayi Kapfidze, LendingTree’s chief economist.

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