By NAHB Now
NAHB Chief Economist Robert Dietz recently provided this housing industry overview in the bi-weekly e-newsletter Eye on the Economy.
The pace of home building continued to slow in July, blighted by a combination of supply-chain constraints and diminishing housing affordability.
Overall housing starts decreased 7% to a seasonally adjusted annual rate of 1.53 million units. Although single-family home building is up 27% on a year-to-date basis (when compared to the declines in the spring of 2020), single-family starts dropped 4.5% from the previous month and permits were at the lowest pace since July 2020.
