Homebuilding Recovers From Lowest Level In Three Years

Construction of new homes in the U.S. recovered in September after falling in August to the lowest level since 2020.

Housing starts rose 7% on a monthly basis to 1.36 million units, after a drop of 13% in August, the Census Bureau said Wednesday. The number is still 7.2% lower than in September of 2022. A mystery company backed by Silicon Valley billionaires has purchased tens of thousands of acres of land for more than $800 million to build a new city near San Francisco

Thousands are living in RVs on Los Angeles’ streets. Leaders want to shrink the number, but the solution is elusive

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U.S. home builder confidence falls to lowest since JanuaryHomebuilder confidence fell in October to the lowest levels since January, according to a report released Tuesday, signaling sky-high mortgage rates are weighing on construction firm optimism and potential buyer traffic.
Source: Reuters - 🏆 2. / 97 Read more »