New Home Building Slows Nationally

New home construction hit a multi-year low in May, dropping to just 1.17 million annualized units — a sharp decline fueled by soaring material and borrowing costs. While the South and West saw the biggest drops, the Northeast and Midwest bucked the trend with gains. This slowdown threatens to worsen the existing housing shortage and could stall regional recovery efforts, as builders struggle under mounting financial pressure. 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/8ea1e662de449fb1