#according report department

Housing starts fell in July as economic uncertainty, rising construction costs, labor shortages and elevated financing expenses continued to challenge builders. Overall housing starts decreased 12.4% in July to a seasonally adjusted annual rate of 1.

Housing starts fell sharply in May, driven by a steep drop in multifamily construction. Meanwhile, single-family buildings also slipped amid high interest rates, rising construction costs and ongoing labor shortages. Overall housing starts decreased