Single-family housing starts decreased 8.4% from December to January to a 993,000 seasonally adjusted annual rate, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Constrained housing affordability conditions due to ongoing, elevated interest rates have led to the reduction in single-family production, the National Association of Home Builders said.
“The single-family home building market is facing competing concerns and opportunities for 2025,” NAHB Chief Economist Robert Dietz said in a statement. “Given persistent affordability concerns, reducing inefficient regulatory costs would offer the best policy path to improve attainable housing supply and bring down shelter inflation.”
Read the full report here.
