03/29/2024

Home Building Disappoints Again, Raising the Specter of a Cementing Trend

Home construction across the U.S. staged a modest rebound last month after a big June drop, but was weaker than Wall Street had expected, with many analysts taking a bleak view of the housing market.

Housing starts grew 0.9% in July from the prior month, significantly weaker than the 8.3% bounce back economists surveyed by The Wall Street Journal had expected. This follows a sharp 12.9% drop in housing construction in June, the largest monthly decline since the end of 2016.

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