Richard Stein – Realtor®, Douglas Elliman, GREEN, SFR, CBR, eCertified®

Local Agent, Worldwide Marketing – Douglas Elliman Real Estate formerly Prudential Douglas Elliman Real Estate

U.S. housing starts hit nine-month low; permits drop

Lucia Mutikani

WASHINGTON (Reuters) – U.S. homebuilding fell to a nine-month low in June and permits for future construction declined for a third straight month, dealing a blow to the housing market as it struggles with a dearth of properties available for sale.

The bigger-than-expected decrease in housing starts and surprise drop in permits reported by the Commerce Department on Wednesday suggested homebuilding could be plateauing against the backdrop of more expensive lumber, and land and labor shortages.

“We’re seeing pressure on both….

FULL STORY AT REUTERS

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