Tag Archives: single-family permits

Strong labor market growth continued to put pressure on the nation’s housing supply in 2024, as homebuilding activity did not fully keep pace with demand driven by job gains. Comparing net new jobs with prior-year permitting activity displays whether the …

Housing starts decreased 15.4% in May, primarily driven by a drop in multifamily construction, while single-family building also fell amid high interest rates, rising construction costs and labor shortages, according to the National Association of Home Builders. The May reading …