High interest rates have dealt a blow to home builders in the US, with new-home construction at its slowest pace in five years. The housing market’s recovery is being hindered by a “murky landscape of construction,” according to economists. In 2024, there were fewer homes built than in the previous year, with housing starts dropping by 3.9%. This has led to an estimated 1.36 million new units not being completed, the lowest level since 2019.
Source: https://www.marketwatch.com/story/hopes-are-high-that-home-builders-will-fix-americas-housing-crisis-but-the-data-tell-a-different-story-d8593090