The U.S. witnessed a notable decline in single-family homebuilding last month, primarily due to elevated mortgage rates. An increase in unsold new homes exacerbated this downturn. However, there was a slight uptick in permits for future construction of single-family homes. The overall new residential construction permits also saw an increase. The housing market continues to grapple with affordability concerns and supply constraints.
Source :- Markets-Economic Times Read More
