Housing starts in the US fell sharply in June, following a surge in May that saw starts on single-family projects reach an 11-month high.
The decline was in part due to a decrease in starts on multi-family projects, which fell 9.8% in June. Single-family starts also declined, but by a less severe 4.3%.
Overall, housing starts are down 3.1% from June 2018. Housing starts are a key indicator of future economic activity, as they provide a measure of demand for housing and also act as a leading indicator of future construction activity.
You can read this full article at: https://www.housingwire.com/articles/housing-starts-surprised-on-the-downside-reflecting-headwinds/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.