Construction was up by less than 1% in July, growing to an annual rate of 1.17 million. Economists expected that figure to be closer to 1.27 million. Year to date, housing starts are 6.2% higher than over the same time in 2017.
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Rising mortgage rates and a skilled craftsman shortage may have contributed to a slowdown in new home construction. So reports MarketWatch.
Construction was up by less than 1% in July, growing to an annual rate of 1.17 million. Economists expected that figure to be closer to 1.27 million. Year to date, housing starts are 6.2% higher than over the same time in 2017.