Housing Starts Plummet Nationwide

Housing starts hit a multi-year low in May, plunging 8.5% year-over-year — the weakest since April 2020 — as soaring material costs and tighter financing squeeze builders. While the South and West saw steep drops of 15% and 11%, the Northeast surged 19% and the Midwest rose 6%, painting a patchwork picture. With the annual rate now at 1.17 million homes — the lowest in years — experts are watching closely to see if the industry can rebound before the housing shortage deepens. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/e48bbf4361360701