June saw a 3% increase in housing starts, although single-family home construction remains at an eight-month low. John Burns Research & Consulting Director of Research, Rick Palacios Jr., joins Wealth! to provide insights into the current housing market construction dynamics.
Palacios highlights a significant downturn in multi-family housing starts, noting a nearly 23% year-over-year decline, a trend he anticipates will persist. Regarding single-family homes, he characterizes the year as one of "haves versus have-nots." Publicly traded homebuilders are thriving in this environment, while private builders struggle to gain traction. According to Palacios, this results in "a pretty flat backdrop for single-family housing starts."
With high interest rates suppressing the housing market, Palacios suggests that a Federal Reserve rate cut would "definitely help" stimulate growth. On the multifamily side, "The storyline coming into the year was… survive until ’25," Palacios told Yahoo Finance, adding that such a cut would boost both multi-family and single-family housing starts.
#stocks #news #youtube
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
