Single-family housing starts decreased 4.6% from May to June to a seasonally adjusted annual rate of 883,000 units—the lowest rate since July 2024, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Single-family housing starts are down 10% compared to June 2024.
Elevated interest rates, rising inventories and ongoing supply-side issues have caused the decrease in single-family starts, the National Association of Home Builders said.
Overall housing starts increased 4.6% from May to June to a seasonally adjusted annual rate of 1.36 million units.
“Single-family building conditions continued to weaken in June as housing affordability challenges caused builder traffic to move lower as buyers moved to the sidelines,” NAHB Chairman Buddy Hughes said in a statement. “Policymakers need to focus on easing high housing costs by eliminating burdensome regulations, promoting careers in the skilled trades, alleviating permitting roadblocks and overturning inefficient zoning rules.”
Read the full report here.
