Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,173,000, -12.3% below the revised May estimate of 1,337,000 and -4.2% below the June 2017 rate of 1,225,000. Single-family housing starts in June were at a rate of 858,000; -9.1% below the revised May figure of 944,000.
“We have been warning the administration for months that the ongoing increases in lumber prices stemming from both the tariffs and profiteering this year are having a strong impact on builders’ ability to meet growing consumer demand,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, LA. “This is why we continue to urge senior officials to take leadership and resolve this issue.”
