Mortgage & housing market update
Housing Construction Outlook: July Starts Fall as Building Permits Rebound
New residential construction slowed in July after a stronger June, while an increase in building permits pointed to potential improvement in future building activity.
Housing starts and completions declined from June, with much of the pullback concentrated in single-family construction. The monthly change follows a strong rebound and reinforces that homebuilding remains uneven rather than moving in a straight line.
Building permits moved higher, suggesting builders are still preparing new projects even while remaining cautious about beginning construction. Multifamily construction has held up better, although changes in that category often trail shifts in single-family activity.
For homebuyers, the report is a reminder that new-home inventory and builder incentives can differ significantly by community. Buyers comparing new construction should review completion timelines, estimated property taxes, homeowners association or CDD costs, and the terms of any builder financing incentive.
Mortgage-rate information is provided for education only and is not a rate quote, offer, or commitment to lend. Actual rates, fees and terms vary by borrower, property, loan program, market conditions and lock period. Home-price indexes are not appraisals or forecasts for a specific property.
Source reporting: Housing Brief Housing News. This market update is an original summary and commentary prepared by the Carson Home Team.