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Single-Family Starts Slow Amid High Costs | Real Estate News
Description
New home construction in June delivered mixed results: apartment builds surged while single-family starts dipped, leaving the housing shortage unaddressed where it matters most. Builders are struggling under rising mortgage rates, soaring material costs, and labor shortages, with confidence at its lowest this year. Permits for single-family homes also fell, signaling a bleak outlook. Yet, a small silver lining: new home sales edged up as builders rolled out incentives to clear inventory — proof that some buyers are still willing to move, even in tough times.
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